News & Analysis at your fingertips.

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. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
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
Oil - US Crude
Bullish
Wall Street
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
Gold
Bullish
GBP/USD
Mixed
USD/JPY
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
More View more
Real Time News
  • What suits your style of trading stocks or commodities? Find out what are the differences in these two markets here: https://t.co/BnA07cMV0s https://t.co/LDP3HlN4A3
  • GBP/USD on the front foot to close the week. Bulls aim for YTD peak, while EUR/GBP range is maintained. Get your market update from @JMcQueenFX here: https://t.co/neGBchlJ0O https://t.co/KME51FSF0D
  • What's the difference between leading and lagging indicators? Find out from here: https://t.co/vGx8HCrRwD https://t.co/7w5jodyzj0
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here: https://t.co/lgDf5cVYOn https://t.co/L3LPCph2ST
  • Make smart trading decisions with your free guide to trade the news. Download your free guide here.https://t.co/pb5E2KgRzW #DailyFXGuides https://t.co/ysxKO30ZWw
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/5nHxtlZ7nn
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/lqpXwWjVFt
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/CrpXuYgfRO
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here: https://t.co/ZNs4Qi8ieG https://t.co/VzEbQn8blk
  • Brush up your knowledge on trade-wars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here: https://t.co/bZEFtp8kFe https://t.co/ETF52Q2sLz
Bullish Sentiment Signals for EUR/JPY, EUR/CHF | Webinar

Bullish Sentiment Signals for EUR/JPY, EUR/CHF | Webinar

Martin Essex, MSTA, Analyst

Market sentiment analysis:

  • Many of the financial markets are currently trading sideways, awaiting developments in the coronavirus pandemic and the various disputes between the US and China.
  • However, there are bullish contrarian trading signals for EUR/JPY and EUR/CHF from the IG Client Sentiment data.

Bullish signals for EUR/JPY and EUR/CHF from sentiment data

Traders are in a wait-and-see mood in many financial markets, waiting for positive or negative news about the Covid-19 pandemic and the various disputes between the US and China. However, taking a contrarian view of IG client positioning is currently yielding bullish signals for both EUR/JPY and EUR/CHF.

As the charts below show, both pairs have been heading higher this week.

EUR/JPY Price Chart, One-Hour Timeframe (July 7-14, 2020)

Latest EUR/JPY price chart.

EUR/CHF Price Chart, One-Hour Timeframe (July 7-14, 2020)

Latest EUR/CHF price chart.

Charts by IG (You can click on them for larger images)

Moreover, the IG client sentiment data suggest more gains to come:

For EUR/JPY, the figures show 41.70% of traders are net-long, with the ratio of traders short to long at 1.40 to 1. The number of traders net-long is 1.57% lower than yesterday and 16.93% lower than last week, while the number of traders net-short is 12.56% higher than yesterday and 20.60% higher from last week.

At DailyFX, we typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests EUR/JPY prices may continue to rise.Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/JPY-bullish contrarian trading bias.

For EUR/CHF, the numbers show 71.03% of traders are net-long, with the ratio of traders long to short at 2.45 to 1. The number of traders net-long is 3.24% higher than yesterday and 1.54% lower from last week, while the number of traders net-short is 8.33% higher than yesterday and 14.29% higher from last week.

The fact traders are net-long suggests EUR/CHF prices may continue to fall.Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment suggest the current EUR/CHF price trend may continue.

In this webinar, I looked at the trends in the major currency, commodity and stock markets, at the forward-looking data on the economic calendar this week, at the IG Client Sentiment page on the DailyFX website, and at the IG Client Sentiment reports that accompany it. You might also like to check out the DailyFX Trading Global Markets Decoded podcasts.

Learn how to use IG Client Sentiment data to spot opportunities based on trader positioning and sentiment

--- Written by Martin Essex, Analyst and Editor

Feel free to contact me on Twitter @MartinSEssex

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

DISCLOSURES