We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Mixed
USD/JPY
Mixed
Gold
Bullish
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Bitcoin
Mixed
More View more
Real Time News
  • Get your stock market basics right - what is the stock market and how does stock trading work? Find out here: https://t.co/JfAJLAtlsY https://t.co/ZfPUxHWeiG
  • The Mexican economy contracted for the first time in almost 10 years in 2019, but growth is expected to pick up in 2020 according to its finance minister. Get your $USDMXN market update from @HathornSabin here: https://t.co/gupJdU7WYT https://t.co/mMN8LFb5i5
  • EUR/USD has been weakening since the start of 2020 and the decline has accelerated this month. At some point there will be a correction but further losses are still likely as the year progresses. Get your $EURUSD market update from @MartinSEssex here: https://t.co/ieJUBNeAIf https://t.co/Dw4f7DQocg
  • The $AUD has risen in anticipation of a deal Washington and Beijing. But the Australia-China trade relationship has not suffered much and may even have been helped by China’s spat with the US. Get your market update from @DavidCottleFX here:https://t.co/An7h5X0Zcz https://t.co/Rn7mLbS1EF
  • How can traders avoid #FOMO in trading? Start by implementing a well-heeled plan taking only four hours per week. Get your insight from @JStanleyFX here: https://t.co/vwUShQPc27 #tradingstyle https://t.co/0Wn4xBL0AY
  • Do you know which type of stock is the right investment for you? Stock types help investors decide on specific #stocks to trade or assist with valuation methods either fundamentally or technically. Learn more about stock types here: https://t.co/yO3JalkqUU https://t.co/RoNdExHAdt
  • The status of the US #dollar as the safe-haven asset of choice remains untouched and any weakness in the greenback is likely to be short-lived. Get your $USD market update from @nickcawley1 here: https://t.co/LO2u38jpUT https://t.co/ctgCJSOeTH
  • #FTSE 100 testing key support as the index lacks a directional bias. #DAX reverses off channel top. Get your indices technical analysis from @JMcQueenFX here: https://t.co/IHF2dgMfg9 https://t.co/2fMTFlOeTR
  • With knowledge of price action, traders can perform a wide range of technical analysis functions without the necessity of any indicators, including management of risk. Build on you knowledge of price action here: https://t.co/9hQA0bsYtt https://t.co/5KQowxuiBf
  • The term ‘Ichimoku,’ literally means ‘one glance,’ in Japanese. Ichimoku, or the one glance indicator, is considered to be a self-contained system in the fact that no additional indicators are necessary. Learn more about the 'one glance' indicator here: https://t.co/T7o7W9C0Ro https://t.co/7bhBfWvEkR
GBP Better Bid, EUR Slips, Indices Continue to Rally - US Market Open

GBP Better Bid, EUR Slips, Indices Continue to Rally - US Market Open

2020-02-12 13:10:00
Nick Cawley, Analyst
Share:

US Market Open – Cryptocurrencies,US Dollar, Gold,Crude Oil,Indices,

  • GBP/USD pushing back to 1.3000.
  • EUR/USD bearish behavior still evident.
  • Equity markets continue to rally.

British Pound Retracing Recent Losses

GBP/USD touched an intraday high of 1.2990 in early turnover and continues to claw back recent losses against a strong US dollar. The British Pound is advancing across a range of currencies, taking heart from yesterday’s better-than-expected UK Q4 GDP release. There are roadblocks ahead, but this week’s positive performance may suggest further gains on the horizon.

GBPUSD Tests a Key Chart Point – British Pound vs US Dollar Price Outlook

GBP Forecast
GBP Forecast
Recommended by Nick Cawley
Download our Brand New Q1 2020 Sterling Forecast
Get My Guide

Daily GBP/USD Price Chart (July 2019 – February 12, 2020)

GBP Better Bid, EUR Slips, Indices Continue to Rally - US Market Open
GBP/USD MIXED
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily -18% -5% -15%
Weekly 11% -27% -4%
Learn how to use Sentiment in your trading strategy
Get My Guide

The Euro continues to fall against all majors after recent weak economic data highlighted the struggles that the ECB currently face in their effort to reboot the Euro-Zone economy. EUR/USD trades just above the 1.0910 mark while EUR/GBP is testing big figure support at 0.8400.

Euro Outlook Bearish vs US Dollar on Powell Testimony, Fed Speak

Equity Markets Continue to Move Ever Higher

A sea of blue in the indices space as buyers shun coronavirus fears and push markets to fresh highs. The DAX has made another fresh high while the Nasdaq is prepped for a run at 10,000.

Nasdaq 10,000 – It’s More Than a Psychological Level

Cryptocurrencies on a Roll

The substantial gains seen in the cryptocurrency market made this year may have gone unnoticed by some, but upside momentum seems to be building. Some of the major coins/tokens are now up 100% in 2020 and are looking to move higher as their charts turn from neutral to positive.

GBP Better Bid, EUR Slips, Indices Continue to Rally - US Market Open

Via CoinMarketCap

For a full rundown of all market moving economic data and events see the DailyFX Calendar

Traders may be interested in two of our trading guides – Traits of Successful Traders and Top Trading Lessons – while technical analysts are likely to be interested in our latest Elliott Wave Guide.

What is your market view – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact via Twitter @nickcawley1.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.