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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
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
More View more
Real Time News
  • Emotions are often a key driving force behind FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here:
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here:
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here:
  • The Australian Dollar remains vulnerable in the week ahead, eyeing risks such as a dovish RBA, surging Covid cases and recent crackdowns by Beijing. Might US NFPs offer some relief to AUD/USD? Get your weekly AUD forecast from @ddubrovskyFX here:
  • $AUDNZD closed at its lowest since December 2020 Prices pierced the 1.0541 - 1.0564 support zone, exposing the November low at 1.0418 A confirmatory downside close under support next week may open the door to further losses #AUD #RBA
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out
  • The US Dollar seems to be losing its momentum against ASEAN currencies as of late. Could this be another top in USD/SGD, USD/THB, USD/PHP and USD/IDR? Find out from @ddubrovskyFX here:
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here:
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.10% 🇪🇺EUR: -0.15% 🇯🇵JPY: -0.18% 🇬🇧GBP: -0.39% 🇳🇿NZD: -0.56% 🇦🇺AUD: -0.69% View the performance of all markets via
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: -0.05% Oil - US Crude: -0.25% Gold: -0.77% View the performance of all markets via
A EUR/GBP Set-up with Confluent Long Signals

A EUR/GBP Set-up with Confluent Long Signals

Kaye Lee, Head Forex Trading Instructor

Talking Points:

  • Potential False Breakout for EUR/GBP
  • Gartley Pattern Completing on Daily Chart
  • Structuring a Trade with "Exceptionally" Low Risk

As many major currencies continue to fluctuate within consolidating patterns, EURGBP seems to be presenting quite an interesting technical trade set-up.

The daily chart below shows a triangle breakout within a consolidation zone. At this daily level of analysis, however, the trend direction is not at all clear, and it might be fairest to call it sideways. However, interested traders may look to the weekly chart (not shown) to discover that generally bullish momentum holds true for EURGBP.

Guest Commentary: Daily Triangle Breakout in EUR/GBP

A potential false breakout from a triangle consolidation pattern is evident on the daily chart of EUR/GBP.

In a sideways market, prices are always more prone to being whipsawed, but the presence of a secondary price pattern makes this particular set-up even more interesting. Here, that comes in the form of the Gartley pattern that is now beginning to complete on the below daily chart. The first pullback respected the 61.8% retracement of the original move, and should the next leg react at the 78.6% retracement, as a standard Gartley pattern would anticipate, the resulting move would be bullish.

Guest Commentary: Gartley Pattern Completing in EUR/GBP

A Gartley pattern appears to be completing on the daily chart of EUR/GBP.

A decent move upwards to test the Gartley high could contain 180 pips or more, which is quite significant for this slow-moving pair, and that makes it all the more possible for traders of all risk appetites to structure trades with appropriate risk profile.

The four-hour chart below readily provides a zone of support around the anticipated 78.6% Gartley reaction level, as indicated. The zone turns out to be 0.8205-0.8228, which is an exceptionally small 23 pips. More aggressive traders could simply initiate a long trade with a stop past the support zone and a stop loss of 30 pips, but it would be most preferable to wait for a trade trigger to occur on the hourly chart (not shown).

Guest Commentary: Key Support Zone for Buying EUR/GBP

Strong support levels on the 4-hour chart of EUR/GBP create a very narrow zone that can be used to control risk for new long positions.

Viable trade triggers would consist of pin bars, bullish reversal divergence, and/or bullish engulfing patterns on the hourly chart. Even though two or three attempts may be required to hop on to this move, the very favorable risk profile makes this trade highly worthwhile.

The slow-moving nature of EURGBP can often test a trader's patience, but nonetheless, it is quite nice to see a confluence of a trend line breakout and a Gartley pattern. Afterall, the most rewarding trades often occur on the heels of such false breakouts when traders are properly positioned to trade the long side, in this case.

By Kaye Lee, private fund trader and head trader consultant,

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