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
EUR/USD
Mixed
Oil - US Crude
Mixed
Wall Street
Bullish
Gold
Bullish
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
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Germany 30: 3.35% France 40: 2.76% FTSE 100: 2.04% Wall Street: 1.79% US 500: 1.53% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/kD54uFfXzs
  • The $SPX's gap higher is the second biggest bullish jump on the open in three months. We swung from the 100-day mov avg support to the 50-day mov avg resistance in just a few days time https://t.co/iCofDttix7
  • GBP has not been weak across the board as EUR/GBP traded in a narrow range, given that the apparent improvement in the mood music regarding Brexit negotiations prompted some stability in GBP. Get your $GBPUSD market update from @JMcQueenFX here: https://t.co/WjU4oYpmf7 https://t.co/SAUlDEw8OY
  • We're back! Thanks to everyone for tuning in today. Keep an eye on $DXY Index at the start of this week. Major US NFP on Friday - last one prior to the US presidential election on November 3. https://t.co/M1gYyTI3Wt
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Silver: 1.82% Gold: 0.48% Oil - US Crude: 0.37% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/jMXFGnFMGU
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.62%, while traders in Germany 30 are at opposite extremes with 63.57%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/PDYwU9zXE2
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Silver: 1.69% Gold: 0.47% Oil - US Crude: -0.26% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/xkLo73xF5Y
  • Heads Up:🇧🇷 Consumer Confidence (Q3) due at 14:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-09-28
  • Faced with a strong US Dollar on safe-haven demand and fears of a second wave of the COVID pandemic washing across Europe, the outlook for EUR/USD remains bearish even after its steep recent losses. Get your $EURUSD market update from @MartinSEssex here: https://t.co/BxglKuKVhj https://t.co/sh4zyYIwGZ
  • Faced with a strong US Dollar on safe-haven demand and fears of a second wave of the COVID pandemic washing across Europe, the outlook for EUR/USD remains bearish even after its steep recent losses. Get your $EURUSD market update from @MartinSEssex here: https://t.co/BxglKuKVhj https://t.co/Bwzdn2oDG5
EURUSD Range Plays Preferred As Dojis Highlight Indecision Persists

EURUSD Range Plays Preferred As Dojis Highlight Indecision Persists

2014-05-05 10:57:00
David de Ferranti, Currency Analyst
Share:

Talking Points

  • EUR/USD Technical Strategy: Shorts Preferred
  • Doji suggests hesitation from the bulls near the critical 1.3900 handle
  • Range-trading strategies preferred on intraday timeframes

EUR/USD’s consolidation between 1.3780 and 1.3900 has persisted with the most recent pullback from the range-top prompting the formation of a Dojicandlestick. The formation suggests signs of indecision from traders and the potential for a pull-back towards the range-bottom. The current environment favors range-trading strategies that may be best-served by examining intraday price action on the four-hour chart.

EUR/USD: Prices Hold Below 1.3900 Following Doji Candlestick

EURUSD Range Plays Preferred As Dojis Highlight Indecision Persists

Daily Chart - Created Using FXCM Marketscope 2.0

The range between 1.3780/5 and 1.3900 for EUR/USD persists, despite several noteworthy pieces of fundamental event risk last week on the US Dollar side of the equation. Look out for a bearish reversal pattern in the coming session which could herald a dip to the range-bottom.

EUR/USD: Candlestick Patterns Highlight Turning Points In Recent Range

EURUSD Range Plays Preferred As Dojis Highlight Indecision Persists

4 Hour Chart - Created Using FXCM Marketscope 2.0

By David de Ferranti, Market Analyst, DailyFX

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