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
Bearish
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • Heads Up:🇯🇵 Unemployment Rate (JAN) due at 23:30 GMT (15min) Expected: 3% Previous: 2.9% https://www.dailyfx.com/economic-calendar#2021-03-01
  • Retail CFD traders (via IG) have flipped net long on the $SPX for the first time since the Pandemic low almost a year ago: https://t.co/yWRLZk5mym
  • ...also for those without kids or are not inherently young at heart, March 2nd is Dr. Seuss's birthday.
  • The price of gold struggles to retain the rebound from the start of the week as longer-dated US Treasury yields hold above pre-pandemic levels. Get your $XAUSD market update from @DavidJSong here:https://t.co/zE7NafvfTq https://t.co/4BxMT0iyi1
  • Uh oh. Another financial product/meme pivot. I think Elon is just a BTD kind of guy who is in tune with the social trading trends and wants to bring the retail crowd along with him. Would fit the essence of Tesla and Space X https://t.co/EP9zj1rXzU
  • Canadian #Dollar Forecast: $USDCAD Bears Fail at Support- March Levels - https://t.co/XkyFns8odx https://t.co/8Q4Tu0viz0
  • I feel the LaserEyes trend is a more effective social spread because of the visual impact. Kind of disappointed the community hasn't gotten a more tangible visual cue for BTD / BTFD. Or maybe there is one and I'm just behind the trend....which happens a lot recently
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.87% 🇨🇦CAD: 0.78% 🇳🇿NZD: 0.45% 🇪🇺EUR: -0.19% 🇯🇵JPY: -0.20% 🇨🇭CHF: -0.70% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/U3yK9hfDka
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Silver: -0.35% Oil - US Crude: -0.37% Gold: -0.50% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/7dEtLof6us
  • The price of oil extends the series of lower highs and lows from the February high ($63.81) ahead of the (OPEC) (JMMC) meeting on March 3. Get your #crudeoil market update from @DavidJSong here:https://t.co/6hjIL77koa https://t.co/h2gQHVFvaB
EUR/USD Sitting Near Key Support With Bullish Candlesticks Absent

EUR/USD Sitting Near Key Support With Bullish Candlesticks Absent

David de Ferranti, Currency Analyst

Talking Points

  • Strategy:Flat
  • Lacking Bullish Signals On The Daily Near Key Floor
  • H4 Chart Offered An Early Hint At An Intraday Bounce

EUR/USD has witnessed a small bounce off the 1.2360 floor – yet it may be a stretch to suggest a Piercing Line pattern has been produced. This in turn leaves a lack of key reversal patterns and makes a more sustained recovery questionable. A close below the nearby barrier would potentially open a run on the 1.2250 floor near 1.2250.

EUR/USD: Rebound May Struggle To Find Further Momentum

EUR/USD Sitting Near Key Support With Bullish Candlesticks Absent

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

The four hour chart revealed an early hint at a rebound in intraday trade with a Piercing Line formation near 1.2365. Yet selling interest appears to have been renewed at the 1.2450 mark and casts doubt on the prospect of fresh gains over the session ahead.

EUR/USD: Piercing Line Offered An Early Hint At A Recovery

EUR/USD Sitting Near Key Support With Bullish Candlesticks Absent

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

By David de Ferranti, Currency Analyst, DailyFX

Follow David on Twitter: @DaviddeFe

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