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
Bullish
Wall Street
Mixed
Gold
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
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • The US #Dollar may fall if demand for haven-linked assets fall after testimonies from Powell and Mnuchin to the House. Better-than-expected data may compound the Greenback’s selling streak. Get your #currencies update from @ZabelinDimitri here: https://t.co/HRjFvPKlvx https://t.co/n2IMVDqpZn
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.06%, while traders in NZD/USD are at opposite extremes with 71.11%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/eoCmgXp0MN
  • There is a great debate about which type of analysis is better for a trader. Is it better to be a fundamental trader or a technical trader? Find out here:https://t.co/7kPzAoNoLG https://t.co/QVVQkoSwMW
  • The S&P 500 index may struggle in the near term – drifting sideways within the bounds of its Bollinger Band – but the overall trend still looks bullish. Get your #equities update from @margaretyjy here: https://t.co/BysksU7lWj https://t.co/UV0hFkZBte
  • #EURUSD Breaking Down, #tiktokban Averted. Biden Leads Trump in Polls https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2020/09/20/EURUSD-Breaking-Down-TikTok-Ban-Averted-Biden-Leads-Trump-in-Polls.html
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/3Wked6GBOp https://t.co/RwX8BpOSiz
  • Join analyst @DavidJSong at 6:30 PM ET/10:30 PM GMT for your weekly update on key news trading events. Register here: https://t.co/gBlrRpCc55 https://t.co/dQxyAORI9P
  • *Reminder: Weekly Strategy Webinar tomorrow morning at 8:30am ET on DailyFX! https://t.co/lxd5fZnn4H
  • A “PIP” – which stands for Point in Percentage - is the unit of measure used by forex traders to define the smallest change in value between two currencies. Learn how to understand pips in forex here: https://t.co/782gHedGTW https://t.co/i6fB1PIQbx
  • #Crudeoil prices could reverse lower as the #OPEC Monthly Oil Market Report (MOMR) forecasts fading global demand and oversupply concerns. Get your #commodities update from @DanielGMoss here: https://t.co/G02ajeLPqZ https://t.co/THuauT4XQ9
EUR/USD Trapped In Trading Band As Dark Cloud Cover Offers Warning

EUR/USD Trapped In Trading Band As Dark Cloud Cover Offers Warning

2014-10-13 06:57:00
David de Ferranti, Currency Analyst
Share:

Talking Points

  • EUR/USD Technical Strategy: Sidelines Preferred
  • Dark Cloud Cover Pattern Receives Confirmation
  • Dojis In Intraday Trade Signaled Hesitation

EUR/USDremains trapped in a trading band between 1.2500 and 1.2755 with a Dark Cloud Cover formation warning of a retest of the recent lows. A close below the nearby floor would be required to open the next leg lower to the late August 2012 low at 1.2250.

EUR/USD: Dark Cloud Cover Warns Of Weakness Sub 1.2755

EUR/USD Trapped In Trading Band As Dark Cloud Cover Offers Warning

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

A string of Dojis in intraday trade signaled reluctance from the Euro bears to lead the common currency lower. Yet key reversal candlesticks remain lacking, leaving limited guidance over the session ahead.

EUR/USD: Dojis Highlighted Hesitation Near Session Lows

EUR/USD Trapped In Trading Band As Dark Cloud Cover Offers Warning

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