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
Bearish
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
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • Heads Up:🇨🇳 PPI YoY (APR) due at 01:30 GMT (15min) Expected: 6.5% Previous: 4.4% https://www.dailyfx.com/economic-calendar#2021-05-11
  • Heads Up:🇨🇳 Inflation Rate MoM (APR) due at 01:30 GMT (15min) Expected: -0.2% Previous: -0.5% https://www.dailyfx.com/economic-calendar#2021-05-11
  • Heads Up:🇨🇳 Inflation Rate YoY (APR) due at 01:30 GMT (15min) Expected: 1% Previous: 0.4% https://www.dailyfx.com/economic-calendar#2021-05-11
  • South Korea says 584k people have received a second vaccine dose - BBG
  • President Biden says FDA decision on Pfizer vaccine a "promising development" - BBG
  • Ever wonder if there are other chart types that can be sued for technical analysis? HLOC charts are discussed in the following article as well as their pros and cons. Learn more here: https://t.co/qV3c7a4YR3 https://t.co/G9bHFJ8xI5
  • Gold Forecast: Gold Volatility Surging as Real Yields Tumble -via @DailyFX Link to Full Analysis: https://www.dailyfx.com/forex/market_alert/2021/05/10/gold-forecast-gold-volatility-surging-as-real-yields-tumble.html $GLD $GVZ $XAUUSD $GC_F https://t.co/ts3S5EnGSy
  • 🇳🇿 Electronic Retail Card Spending YoY (APR) Actual: 108.7% Previous: 5.1% https://www.dailyfx.com/economic-calendar#2021-05-10
  • 🇳🇿 Electronic Retail Card Spending MoM (APR) Actual: 4% Previous: 0.8% https://www.dailyfx.com/economic-calendar#2021-05-10
  • RT @FxWestwater: $AUDUSD Eyes Chinese Inflation Amid Iron Ore Strength, US Dollar Fragility Link: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2021/05/10/AUDUSD-Eyes-Chinese-Inflation-Amid-Iron-Ore-Strength-US-Dollar-Fragility.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https://t.co/Rg0…
EUR/USD Bullish Signal Puts 1.3900 In Focus

EUR/USD Bullish Signal Puts 1.3900 In Focus

David de Ferranti, Currency Analyst

Talking Points

  • EUR/USD Technical Strategy: Sidelines Preferred
  • Bullish Engulfing candlestick suggests run on 1.3900 to come
  • Break above range-top needed to push prices to 1.3935/50

EUR/USD’s consolidation between 1.3780 and 1.3900 has persisted with the most recent bounce off the range-bottom prompting the formation of a Bullish Engulfing candlestick pattern. While the signal typically foreshadows a reversal following a downtrend the pattern may be an indication the pair may be set to make another run on 1.3900.

EUR/USD: 1.3900 In Sight Following Bullish Engulfing Pattern

EUR/USD Bullish Signal Puts 1.3900 In Focus

Daily Chart - Created Using FXCM Marketscope 2.0

Similarly, a Bullish Engulfing pattern in intraday trade has helped propel prices higher. With a bearish reversal signal seemingly absent, a push above 1.3900 could lead to an advance on the next definitive level of resistance at 1.3935.

EUR/USD: Critical Support At 1.3785 Prompts Reversal

EUR/USD Bullish Signal Puts 1.3900 In Focus

4 Hour Chart - Created Using FXCM Marketscope 2.0

By David de Ferranti, Market Analyst, FXCM

Follow David on Twitter: @Davidde

To receive David’s analysis directly via email, please sign up here.

Learn how to read candlesticks to help identify trading opportunities with the DailyFX Candlesticks Video Course.

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

DISCLOSURES