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
Bearish
GBP/USD
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
USD/JPY
Bullish
More View more
Real Time News
  • GameStop is down around 260 now afterhours - official close was 347.51
  • RT @tracyalloway: Aaaand r/wallstreetbets just went private https://t.co/wAudxFdqfl
  • Not only was today the worst day for the #SP500 in almost 3 months (-2.57%) But also, the #VIX market 'fear-gauge' surged 61.64% That was the largest single-day surge since February 2018 which means.... Yes, worse than any single instance during last year's Covid crash https://t.co/u2laobD913
  • 🇯🇵 Retail Sales YoY (DEC) Actual: -0.3% Expected: -0.4% Previous: 0.7% https://www.dailyfx.com/economic-calendar#2021-01-27
  • 🇯🇵 Foreign Bond Investment (23/JAN) Actual: ¥752.6B Previous: ¥272.4B https://www.dailyfx.com/economic-calendar#2021-01-27
  • Heads Up:🇨🇭 World Economic Forum Annual Meeting due at 00:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-01-28
  • US equities tumbled overnight. All 11 S&P 500 sectors declined, with only 15% of the index’s constituents closing in the green on Wed. Communication services (-3.82%), consumer discretionary (-3.13%) and healthcare (-3.05%) were among the hardest hit. https://t.co/wGR3JBguZg
  • Heads Up:🇯🇵 Retail Sales YoY (DEC) due at 23:50 GMT (15min) Expected: -0.4% Previous: 0.7% https://www.dailyfx.com/economic-calendar#2021-01-27
  • Heads Up:🇯🇵 Foreign Bond Investment (23/JAN) due at 23:50 GMT (15min) Previous: ¥272.4B https://www.dailyfx.com/economic-calendar#2021-01-27
  • Will the Swiss Franc find reprieve after recent losses against the Canadian and New Zealand Dollars as NZD/CHF and CAD/CHF uptrends face key chart barriers? Find out from @FxWestwater here:https://t.co/c89gcaNhTt https://t.co/aWbG3XGCXt
EURUSD - Jackson Hole Breakout Brings Big Picture Levels into Focus

EURUSD - Jackson Hole Breakout Brings Big Picture Levels into Focus

Paul Robinson, Strategist

What’s inside:

  • EURUSD breaks out of bull-flag, registers new 2017 high on Yellen, Draghi speeches
  • Big long-term levels lie not far ahead, could soon prove problematic
  • US Dollar Index now deeper into major long-term support

Looking for a longer-term view on EURUSD? Check out the Q3 Forecast.

Last week, up until Yellen and Draghi spoke at the economic symposium in Jackson Hole, EURUSD did what we expected – continue to chop within the confines of a building bull-flag. The chop created a narrowing range (triangle) heading into Friday, from which Yellen’s words sprung the euro free from. It was an outcome we discussed in the webinar leading up to Friday’s developments.

The resulting move from Yellen’s words took the euro up near the recent 11910 high, Draghi finished off the breakout (albeit by only a few pips on a closing basis), with the euro moving to its best levels since early January 2015. The breakout brings the next level of resistance into play by way of the 2012 low at 12041. Beyond there we will look towards the upper parallel tied to the trend-line off the April swing-low, and with a big surge the June 2010 monthly close at 12236. To flip the script, it would require the Friday rally to be fully negated.

EURUSD: Daily

EURUSD - Jackson Hole Breakout Brings Big Picture Levels into Focus

As we discussed last week regarding the US Dollar Index (DXY), prior to Friday’s move it was trading at the upper portion of a long-term support zone, one which is now being thoroughly tested; the lower end of the zone is ~91.40 There is little love for the dollar as most market participants, as evidenced by the year-to-date decline, continue to be sellers. When a trend becomes extremely lop-sided into support it is worth paying attention to as reversals can quickly arise. With that said, we haven’t yet seen price action to back this notion up of course; but should we see the DXY turn (euro to drive this move, as it is ~57% of the index) we’ll be ready for a counter-move to unfold, and perhaps swiftly so…

Join Paul for live analysis next week, for details please see the Webinar Calendar.

US Dollar Index (DXY): Monthly

EURUSD - Jackson Hole Breakout Brings Big Picture Levels into Focus

---Written by Paul Robinson, Market Analyst

You can receive Paul’s analysis directly via email bysigning up here.

You can follow Paul on Twitter at@PaulRobinonFX.

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

DISCLOSURES