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
Bullish
Oil - US Crude
Mixed
Wall Street
Mixed
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
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in AUD/JPY are at opposite extremes with 67.26%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/rz01eDKbJ2
  • Hey traders check out @PeterHanksFX make a guest appearance with @GuyAdami and @RiskReversal for this week's @macrosetup https://t.co/5oZ4UT4xiq
  • RT @IG_US: @GuyAdami & @RiskReversal talk: - "Bidenomics" - U.S. Debt Binge... - What the promise of added stimulus, QE forever, low rates…
  • $AUDUSD has pared today's gains, falling back to trade around the 0.7690 level after a climb to 0.7715 this morning. $AUD $USD https://t.co/E40qsrPHBa
  • Indices Update: As of 19:00, these are your best and worst performers based on the London trading schedule: US 500: 0.61% Wall Street: 0.29% Germany 30: 0.22% FTSE 100: 0.21% France 40: 0.20% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/uVK1SrNXgZ
  • $GBPUSD crossed back above 1.3600 as the pair recovers from weakness yesterday and last week. The 1.3600 area has repeatedly come into play on the pair since mid December. $GBP $USD https://t.co/7uKgTrerg6
  • BoE Chief Economist Haldane: - Bounceback from Covid may be sharper than after financial crisis - BoE is not engaging in monetary financing - QE is temporary action to keep borrowing costs low #BoE $GBP
  • US Indices have held onto their earlier gains as the trading day continues. DOW +0.51% NDX +1.35% SPX +0.82% RUT +1.15% $DOW $QQQ $SPY $IWM
  • The price of gold trades below the 50-Day SMA ($1859) once again as the V-shape recovery from the November low ($1765) unravels. Get your $XAUUSD market update from @DavidJSong here:https://t.co/UrQKgi3VJR https://t.co/g6SpuXwrv0
  • webinar starting right now - topics up for discussion today: 1. Did USD just top? 2. Resistance at prior support EUR/USD 3. How long might USD pullback run for? starting right now - https://www.dailyfx.com/webinars/455809179 https://t.co/didg11SWgq
Ichimoku Alert: Bullish Pressure On EUR/USD On H4 Chart Plus Sentiment

Ichimoku Alert: Bullish Pressure On EUR/USD On H4 Chart Plus Sentiment

Tyler Yell, CMT, Currency Strategist

Ichimoku Alert: Bullish Pressure On EUR/USD On H4 Chart Plus Sentiment

Chart:

Ichimoku Alert: Bullish Pressure On EUR/USD On H4 Chart Plus Sentiment

EUR/USD price moved lower aggressively on Monday, but there are signs of Bullishness on the chart and in the options market that traders should watch. First, the price of EUR/USD has begun trading toward the top of a falling channel. If the price of EUR/USD breaks above the channel and the Trendline drawn with the slope of the channel, we could have a very strong breakout higher on our hands.

Looking at Ichimoku, you can see that the price had moved aggressively above the cloud, which is seen as a trend filter, from late October when price traded at 1.0850 to as high as 1.11417 on Friday, November 4. The sharp move higher seen on the 4-hour chart as taking the price to the top of the bearish channel. Another move higher, as long as the price holds above the cloud may indicate a breakout to the upside.

Ichimoku traders who look at the 4-hour chart can look to see if the price stays above the cloud, which has turned a bullish color (green) on that chart. In addition to price, keeping an eye on the lagging line (bright green line behind price) would be indicative of Bullish pressure remains.

Lastly, the options market has shown that in early November, options traders have become their most bullish on the euro against the dollar on record. This reading is gauged by one-week risk reversal rate that measures positioning and sentiment with Bloomberg data going back to 2003.

If the price breaks below the cloud and stays below the Trendline, the bullish signal would not be triggered.

What Is Ichimoku Cloud? Read Our Definitive Guide to Trading Trends with Ichimoku Cloud

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

DISCLOSURES