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
Mixed
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • Stocks may have brushed aside news the US fiscal package may not arrive before mid-March But, you know what didn't? Treasuries Average of 10Y and 30Y rates at lowest since late Dec Stopped right on the 20-day SMA Overall, coming off March 2020 peaks, but AUG uptrend holds https://t.co/wm0blgxT7D
  • The calls for stimulus will be strong in the United States between Secretary Yellen, Chair Powell and President Biden. Now, is that a benefit to the Dollar for relative risk or a detriment in inflation terms? https://t.co/gMyjKoBekO
  • Heads Up:🇨🇭 World Economic Forum Annual Meeting due at 00:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-01-26
  • Heads Up:🇯🇵 BoJ Monetary Policy Meeting Minutes due at 23:50 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-01-25
  • The Bitcoin/Ethereum ratio’s break to its lowest levels since August 2018 suggests that ETH may continue to outperform BTC in the coming weeks. Key levels to watch for Bitcoin and Ethereum. Get your $btc market update from @DanielGMoss here:https://t.co/mo3rw7bP4v https://t.co/UUbjzqhT1p
  • US Senate confirms former Fed Chair Janet Yellen as Treasury Secretary -AFP
  • 🇰🇷 GDP Growth Rate YoY Adv (Q4) Actual: -1.4% Expected: -1.7% Previous: -1.1% https://www.dailyfx.com/economic-calendar#2021-01-25
  • Majority of US Senate votes to confirm Janet Yellen as Treasury Secretary, voting will continue - BBG
  • With latest round of GDP data, South Korea's GDP per capita is now ahead of Italy's. Into G7 territory for the first time.
  • Brief update on my $AUDNZD analyst pick: The pair has confirmed the break under near-term rising support from December 20-day SMA has been taken out 50-day sits below still, may still come into play as key support if losses extend https://t.co/y4quXCd177 https://t.co/6kyGLO7BnR
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