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
More View more
Real Time News
  • GBP/USD has flattened overnight after its strongest rally in a month on Thursday. The British currency has been under pressure recently as an energy crisis has caused a number of gas providers to go bankrupt. Get your market update from @HathornSabin here:https://t.co/3D8s2eIVWv https://t.co/JDGNwKYyOn
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here: https://t.co/mfwJ0sIauS https://t.co/JIT5it2HAt
  • Gold could suffer further near-term losses due to rising U.S. Treasury yields and a weak technical picture for price action. Get your weekly gold forecast from @DColmanFX here: https://t.co/g9QvH3L4It https://t.co/Vz98E0Bl9U
  • Gold has been trending lower after failing to clear resistance in the $1835 area earlier this month. Get your $XAUUSD market update from @DColmanFX here:https://t.co/3hm1g3BHgf https://t.co/MdTQKEBCBx
  • Key break here in the 10-year #Treasury yield as it rises to the highest since late June Took out 1.4230 resistance, and the 100-day SMA Eyes now on the 38.2% Fib extension at 1.4775 Also potential falling resistance from March https://t.co/4cI6l210ui
  • The move in rates after this week’s FOMC has continued and the 10 year yield has pushed up to a fresh two-month-high. Get your market update from @JStanleyFX here:https://t.co/CRWhuZ3sxD https://t.co/svHHqN2Zz8
  • S&P 500 contending with its proverbial ‘line in the sand’ as bulls and bears battle for directional control. How we close/trade around the 50-day moving average could serve as a noteworthy bellwether for risk trends headed into next week. I remain cautious below ~4,480. $SPX $ES https://t.co/qogkjs1Sx2
  • USD/JPY trades to a fresh monthly (110.57) amid the pickup in longer-dated US Treasury yields, and the exchange rate may stage a larger advance over the coming days. Get your market update from @DavidJSong here:https://t.co/dlNXOrJnM9 https://t.co/LCQd26W1zF
  • US yields continue to climb, with the 10-year Treasury yield trading above 1.45% $ZN $ZB https://t.co/N4EDfwD3nZ
  • $USDJPY bull thesis appears quite constructive. Technicals show topside breakout above trend resistance following a period of consolidation. Bond yields providing the fundamental catalyst. Eyes on Aug/YTD highs. A broad-based deterioration in market sentiment poses downside risk. https://t.co/AazskXGjHq
EUR/USD – The Abyss Hopefully Leads to Clarity

EUR/USD – The Abyss Hopefully Leads to Clarity

Kristian Kerr, Sr. Currency Strategist

Price & Time covers key technical themes daily and can be delivered to your inbox each morning by joining the distribution list: Price & Time

Talking Points

  • Long-term symmetry underpins and caps
  • Near-term cycles turning positive

EUR/USD - The Abyss Hopefully Leads to Clarity

EUR/USD – The Abyss Hopefully Leads to Clarity

I usually write about the euro at least once a week. Looking at my archive last night, I realized I have not written about the single currency in over three weeks! There has been agood reason. I do not like wasting mental capital on instruments that I do not really have a good feel for and the euro these past few weeks has been a bit too unbalanced for my liking. In the bigger picture scheme of things, I think EUR/USD remains in “no man’s land” with long-term symmetry around 1.1600 and 1.0600 needing to break to give any sort of meaningful directional clarity. The good news is that while this plays out the exchange rate should continue to “build energy” much like a coiled spring. Once that “energy” is released via a break of long-term symmetry, it should set off a decent trend.

What is the #1 mistake most FX traders make? Find out HERE.

For the meantime, we are left trying to discern the wags and wiggles of the exchange rate as it teases us within the confines of this now tiresome yearlong boundary. Assuming the undercut of the March 2 low is just that (an undercut), then it argues that the rate should try to strengthen into the end of the week/start of next week. We will see. It is difficult to envision with some of the things that have gone on over the last 24 hours, but perhaps that is counterbalanced by retail’s persistent short positioning (see HERE ). The February highs remain an attraction. Persistent weakness past London trading tomorrow (i.e. new lows) would invalidate my near-term positive thinking.

Get DailyFX’s top trading opportunities of 2016 HERE.

--- Written by Kristian Kerr, Senior Currency Strategist for DailyFX.com

To contact Kristian, e-mail instructor@dailyfx.com. Follow me on Twitter @KKerrFX

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

DISCLOSURES