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
  • 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/Vc0ZzB38Jq
  • (Market Alert) Australian Dollar Pops on RBA as Taper Plan is Left Alone, Now What? #AUD $AUDUSD #RBA https://www.dailyfx.com/forex/market_alert/2021/08/03/Australian-Dollar-Pops-on-RBA-as-Taper-Plan-is-Left-Alone-Now-What.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/FiZoavEg5e
  • RT @KyleR_IG: "We need to boost confidence. So we should stimulate. But maybe people will know we are trying to boost confidence. And then…
  • $AUDUSD popping on the #RBA The central bank will continue to buy A$5b/week of bonds until early September, then tapering to 4b until at least mid-Nov Traders likely unwinding bets that the RBA could have reversed prior decision on asset purchases https://t.co/crmIIsaEaR https://t.co/vwJs7fwzr9
  • RBA: Sees gradual pickup in wages growth, underlying inflation. Sees some increase in unemployment rate in near-term -BBG
  • RBA: GDP to decline in September quarter, experience shows economy bounces back quickly. Economy still expected to grow strongly again next year -BBG
  • RBA: Condition for rate rise will not be met before 2024, sees Australia growing 'little over' 4% in 2022 -BBG
  • RBA sticks with taper plan -BBG #AUD $AUDUSD
  • 🇦🇺 RBA Interest Rate Decision Actual: 0.1% Expected: 0.1% Previous: 0.1% https://www.dailyfx.com/economic-calendar#2021-08-03
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.72%, while traders in France 40 are at opposite extremes with 78.97%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/9u54wDvyGc
Guest Commentary: EUR/USD Switching from High Probability to High Return/Risk

Guest Commentary: EUR/USD Switching from High Probability to High Return/Risk

Ed Matts, MarketVisionTV.com,

* The current rally from 1.2880 is therefore likely to overshoot obvious upside targets to 1.3070 historical confluence.

* This will provide an opportunity not just to square a high probability +170 pip long but also enter a lower probability but better risk return short for 1.2835.

Guest_Commentary_EURUSD_Switching_from_High_Probability_to_High_Return_Risk_body_Picture_1.png, Guest Commentary: EUR/USD Switching from High Probability to High Return/Risk

The Euro has maintained the rally and the high probability long where both the bullish and bearish views coincide to the 1.3000-30 target area. And now?

The rally to 1.3125 remains a five wave rally and the decline remains a five wave down both promising further legs in the same direction and suggests the current rally is still a correction within a correction. However if our view that 1.2825 will hold until 1.3170 is broken in line with the Pandora's box analogy of 1996, then the rally should exceed 1.3070 (a backwards target) for a C=A of 245 pips. It so happens that 1.3070-80 is also the 78.6% retracements that Euro managed last October and March in similar circumstances. It is also a possibly unusual c=2.618a and alikely v=i objective to complete the rally from the 1.2880 retest.

Although we have cut longs at 1.30 the 61.8% we will square this next rally and sell against 1.3125 for a loss of 1.2950 now (overlap) to encourage the 1.2825-35 hopefully c=a and 61.8% retracement.

Further videos or commentaries are available from ww.marketvisiontv.com or @EdMatts on Twitter.

Would you like to see more third-party contributors on DailyFX? For questions and comments, please send them to research@dailyfx.com

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

DISCLOSURES