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
Mixed
Oil - US Crude
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
Wall Street
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
Gold
Mixed
GBP/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
USD/JPY
Bullish
More View more
Real Time News
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here: https://t.co/nAa0fHHGbZ https://t.co/y0zq7YdcRf
  • Heads Up:🇦🇺 RBA Meeting Minutes due at 01:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-06-15
  • Nasdaq 100 Hits All-Time High, Hang Seng and ASX 200 May Follow https://www.dailyfx.com/forex/market_alert/2021/06/15/Nasdaq-100-Hits-All-Time-High-Hang-Seng-and-ASX-200-May-Follow-.html https://t.co/Wqldw4aXNC
  • RT @FxWestwater: Hello traders! The Weekly Commodities Trading Prep webinar will be pushed 24 hours to Wednesday 2:00 GMT/10:00 pm EST. Joi…
  • Natural gas spot prices have been on the rise, recapturing a key trendline, following the EIA’s Short-Term Energy Outlook. Where can prices head from here? Find out from @FxWestwater here:https://t.co/yK48nZD1ag https://t.co/rRT4oBDnrK
  • Even in quiet market conditions, you can always find some activity #Philippine stock index (PSEi) up about 13.5% from late May low Expectations of easing lockdowns in the Manila capital region have been a fundamental driver Falling Wedge breakout facing the 61.8% Fib at 6916 https://t.co/VPtB78GRvl
  • USD/JPY IG Client Sentiment: Our data shows traders are now net-short USD/JPY for the first time since Jun 04, 2021 when USD/JPY traded near 109.52. A contrarian view of crowd sentiment points to USD/JPY strength. https://www.dailyfx.com/sentiment https://t.co/KPOyPWpuDn
  • Interesting tone update from the Bank of Indonesia ahead of this week's rate decision The CB said yesterday that it sees Rupiah weakening as 'still reasonable' But. it will maintain measures to stabilize the exchange rate See my tech update here - https://t.co/vu89Lt0boZ
  • The US Dollar continues to see varied performance against ASEAN currencies. USD/SGD is consolidating. USD/THB may bounce. USD/IDR and USD/PHP could continue lower.Get your market update from @ddubrovskyFX here:https://t.co/Ccvcy93t5X https://t.co/cejykWrenF
  • RT @FxWestwater: $AUDUSD Eyes RBA Minutes After Iron Ore Rally Fails to Lift Aussie Dollar Link: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2021/06/14/AUDUSD-Eyes-RBA-Minutes-After-Iron-Ore-Rally-Fails-to-Lift-Aussie-Dollar.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https://t.co/AlQ6…
EUR/GBP Technical Analysis: Euro Rallies Most in 7 Weeks

EUR/GBP Technical Analysis: Euro Rallies Most in 7 Weeks

Ilya Spivak, Head Strategist, APAC

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

  • EUR/GBP Technical Strategy: Short at 0.7325
  • Euro Soars Against the British Pound, Produces Largest Daily Advance in Seven Weeks
  • Short Trade Held as Trend Line Holds, Hinting Downward Bias Remains Intact for Now

The Euro surged upward against the British Pound, with prices producing the largest single day advance in seven weeks. The UK unit faced broad-based selling pressure following the Bank of England monetary policy announcement.

From here, a daily close above the 23.6% Fibonacci retracement at 0.7148 opens the door for a test of the 38.2% level at 0.7214. Alternatively, a move back below the 14.6% Fib at 0.7107 – now acting as support – clears the way for a challenge of the November 5 low at 0.7042.

We entered short EUR/GBP at 0.7325 and subsequently took profit on half of the position. Thus far, the push higher failed to break trend resistance. With that in mind, the second half of the short position will remain open with a stop-loss at the breakeven level until the near-term down move has been conclusively invalidated.

Losing Money Trading Forex? This Might Be Why.

EUR/GBP Technical Analysis: Euro Rallies Most in 7 Weeks

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

DISCLOSURES