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.

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
Oil - US Crude
Mixed
Wall Street
Bearish
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
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • Please join @ddubrovskyFX at 20:00 EST/00:00 GMT for a webinar on what other traders' buy/sell bets say about price trends. Register here: https://t.co/mwYyGmK1Gf https://t.co/mvc5ajVaCh
  • 🇰🇷 Unemployment Rate (APR) Actual: 3.7% Previous: 3.9% https://www.dailyfx.com/economic-calendar#2021-05-11
  • All 9 Dow Jones sectors ended lower, with 90% of the index’s constituents closing in the red. Energy (-2.62%), financials (-2.43%) and consumer discretionary (-1.82%) were among the worst performers, while materials (-0.23%) registered small losses. https://t.co/4jHdCZ1NuL
  • RT @ZabelinDimitri: What could go wrong?! https://t.co/c6CLYsCN1d
  • Heads Up:🇰🇷 Unemployment Rate (APR) due at 23:00 GMT (15min) Previous: 3.9% https://www.dailyfx.com/economic-calendar#2021-05-11
  • (Tech Special) British Pound Analysis: GBP/USD, EUR/GBP. GBP/JPY in Focus After Sterling’s Jump $GBPUSD $EURGBP $GBPJPY #GBP #Sterling https://www.dailyfx.com/forex/technical/article/special_report/2021/05/11/British-Pound-Analysis-GBPUSD-EURGBP-GBPJPY-in-Focus-After-Sterlings-Jump.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/HkYBanDOXd
  • The British Pound gained aggressively, placing the focus on levels that may send GBP/USD and GBP/JPY lower, with EUR/GBP still open to a turn higher. Will Sterling’s advance continue? Get your $GBP market update from @ddubrovskyFX here:https://t.co/PHoCHVc20M https://t.co/IBKnW68wv2
  • SEC urges caution on funds with exposure to Bitcoin futures, calls Bitcoin a "highly speculative investment" - BBG
  • SEC warns of volatility, lack of regulation in Bitcoin market - BBG #BTC #Bitcoin
  • CDC: Johnson & Johnson vaccine advantages still outweigh the rare risks $JNJ $USD
EUR/USD Opens Lower for 5th Session

EUR/USD Opens Lower for 5th Session

Walker England, Forex Trading Instructor

Talking Points:

  • EUR/USD Opens Lower for 5th Session
  • EMA Resistance Found at 1.0720
  • Sentiment Remains Neutral: IG Client Sentiment Reading at +1.075

The EUR/USD has opened Monday’s trading lower, which opens the possibility of the pair declining for its 5th consecutive session. This short term downtrend was established last week as the EUR/USD was technically rejected last week against its 200 day MVA (simple moving averaged), and then quickly declining beneath its 10 day EMA (exponential moving average). These averages now stand respectfully at 1.0832 and 1.0720, and are working as points of resistance as prices decline.

In the event of a continued bearish move this week, traders should first look for the EUR/USD to challenge the March 14th low of 1.0600. This line is acting as a value of price action support, and a decline below 1.0600 exposes the standing monthly low found at 1.0494. If the EUR/USD rallies however, traders should first look for the pair to trade above the 10 day EMA at 1.072. This would suggest a shift in the pair’s short term trend, allowing traders to then target higher values of resistance.

EUR/USD Daily Chart with Averages

EUR/USD Opens Lower for 5th Session

(Created Using IG Charts)

Sentiment analysis for the EUR/USD stands at a neutral reading, with IG Client Sentiment reading at +1.075. With 52% of traders positioned long and 48% short, this reading remains mixed. In the event that the EUR/USD declines further this week, traders may look for sentiment figures to shift towards new positive extremes of +2.0 or greater. Alternatively in the event that the EUR/USD rebounds, it would be expected to see sentiment values flip negative then move towards new extremes.

EUR/USD Opens Lower for 5th Session

--- Written by Walker, Analyst for DailyFX.com

To Receive Walkers’ analysis directly via email, please SIGN UP HERE

See Walker’s most recent articles at his Bio Page.

Contact and Follow Walker on Twitter @WEnglandFX.

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

DISCLOSURES