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
More View more
Real Time News
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: France 40: 0.47% US 500: 0.32% Wall Street: 0.26% Germany 30: 0.19% FTSE 100: 0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/e9Pahsokz1
  • Join @PaulRobinsonFX at 6:00 EST/10:00 GMT for a webinar on becoming a better trader in current markets. Register here: https://t.co/rriVJ9cZOb https://t.co/Mpq9YT6w4g
  • Forex sentiment analysis can be a useful tool to help traders understand and act on price behavior. Learn how to get the most out of understanding trader sentiment here: https://t.co/rJznrXkcYz https://t.co/okpXPh6XGX
  • 🇬🇧 Construction PMI (JUL) Actual: 58.7 Expected: 64 Previous: 66.3 https://www.dailyfx.com/economic-calendar#2021-08-05
  • Beijing to quarantine visitors from high-risk areas for 14 days $CNH
  • Heads Up:🇬🇧 Construction PMI (JUL) due at 08:30 GMT (15min) Expected: 64 Previous: 66.3 https://www.dailyfx.com/economic-calendar#2021-08-05
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 94.06%, while traders in France 40 are at opposite extremes with 80.15%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/H9zwgbPJJF
  • Heads Up:💶 ECB Economic Bulletin due at 08:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-08-05
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/vg7w10la3j https://t.co/Rsh9VeB7TU
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Silver: 0.06% Gold: 0.00% Oil - US Crude: -0.16% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/YueZQaYokR
EUR/USD at Risk of New Lows Before Corrective Rally

EUR/USD at Risk of New Lows Before Corrective Rally

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_eur-usd_body_eurusd.png, EUR/USD at Risk of New Lows Before Corrective Rally

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Are you new to FX or curious about your trading IQ?

FOREXAnalysis: Bigger picture, a EURUSD head and shoulders would be confirmed on a drop below 1.2743. A drop below 1.2796 could also complete 5 waves down from 1.3242 and give way to a corrective rally in June. A level to keep in mind for a possible low in the next few days is the 61.8% extension of waves 1 through 3 at 1.2717. Of course, if price were to fall that low and reverse, many would probably be caught shorting a head and shoulders break. One way to protect yourself from shorting a false break…wait for the daily close before passing judgment on the validity of the break.

FOREX Trading Strategy: Order to short 1.2884, stop 1.2950, target 1.2720

LEVELS: 1.2717 1.2744 1.2833 1.2884 1.29491.2997

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

DISCLOSURES