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
EUR/USD
Bearish
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
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Bearish
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
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • RT @ZabelinDimitri: What are markets looking at next ahead now that we've got the Fed rate decision behind us? Take a look⬇️
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.23% FTSE 100: 0.20% France 40: 0.19% US 500: -0.98% Wall Street: -1.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/PmrtAwxR49
  • $XAUUSD - Big Spot here for #Gold . . . https://t.co/V6vp7zTZ04 https://t.co/9nPPFBM5Nd
  • The FTSE is turning lower from big spot of resistance. Testing channel structure off the February low. Get your market update from @PaulRobinsonFX here:https://t.co/2fEB1tJ5Zh https://t.co/7NrWwY9jBl
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 84.57%, while traders in France 40 are at opposite extremes with 70.12%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/Gb5NeVBsGS
  • US Dollar Price Action Setups: EUR/USD, GBP/USD, USD/CAD, AUD/USD https://www.dailyfx.com/forex/analyst_picks/todays_picks/james_stanley/2021/06/18/US-Dollar-Price-Action-Setups-EURUSD-GBPUSD-AUDUSD-USDCAD.html https://t.co/EyDRu1uB8q
  • Bitcoin continues to trade within a defined support and resistance band. Rates markets awash with speculation as yield curve flattens. Get your market update from @WVenketas here:https://t.co/y10uIN6Zqg https://t.co/uf2oerbfUW
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.64% Silver: 0.23% Gold: 0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/L3CRiaZdZU
  • Wall Street IG Client Sentiment: Our data shows traders are now at their most net-long Wall Street since Oct 30 when Wall Street traded near 26,509.50. A contrarian view of crowd sentiment points to Wall Street weakness. https://www.dailyfx.com/sentiment https://t.co/6LuUxLna1F
  • US want nuclear deal before Iran President Inauguration - Axios
EUR/USD Candlesticks Reflect Caution As Consolidation Continues

EUR/USD Candlesticks Reflect Caution As Consolidation Continues

David de Ferranti, Currency Analyst

Talking Points

  • EUR/USD Technical Strategy: Pending Short
  • Medley of Dojis and Short Sessions Indicate Indecision
  • Awaiting Downside Break Amid Bearish Backdrop

EUR/USDremains range-bound as a parade of Doji candlesticks and short body sessions suggest hesitation from traders. Within the broader context of sustained downtrend a break below 1.2850 would favor new short positions with a target of 1.2755.

EUR/USD: Awaiting Break From Narrow Trading Band

EUR/USD Candlesticks Reflect Caution As Consolidation Continues

Daily Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here

The four hour chart tells a similar narrative as the daily. Several short body candles amid a slump in volume do little to confirm a clear trading bias for the common currency. Further, the narrow trading band that has emerged for the Euro offers little juice to squeeze. This leaves a breakout preferred before adopting fresh positioning.

EUR/USD: Lacking Clear Signals In Intraday Trade

EUR/USD Candlesticks Reflect Caution As Consolidation Continues

4 Hour Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here

By David de Ferranti, Currency 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