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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
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
More View more
Real Time News
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here:
  • US indices have a packed week ahead with earnings from the major technology names, US GDP data due and an FOMC rate decision. With so much on the docket the potential for volatility is heightened. Get your stock market forecast from @PeterHanksFX here:
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here:
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here:
  • The US Dollar Index traded higher last week, sustaining its broader uptrend. Conflicting technical signals urge caution, but the directional bias remains skewed to the upside. Get your weekly USD technical forecast from @FxWestwater here:
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here:
  • The Australian Dollar still remains vulnerable as it extends losses against its major counterparts. What is the road ahead for AUD/USD, AUD/JPY, AUD/NZD and AUD/CAD? Get your AUD technical forecast from @ddubrovskyFX here:
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here:
  • Take a closer look visually at the most influential global importers and exporters here:
  • EUR/USD tumbled last week on the day of the ECB’s latest policy announcement, and that weakness is set to continue this week as a flood of major Eurozone economic statistics is released. Get your weekly Euro forecast from @MartinSEssex here:
EUR/GBP Technical Analysis: Waiting for Directional Conviction

EUR/GBP Technical Analysis: Waiting for Directional Conviction

Ilya Spivak, Head Strategist, APAC

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

Talking Points:

  • EUR/GBP Technical Strategy: Flat
  • Euro stalling in digestion mode after hitting monthly high vs. British Pound
  • Waiting for directional conviction to emerge before committing to a trade

The Euro is in consolidation mode below the 0.79 figure after rising to the highest level in nearly a month against the British Pound. Prices began to recover having found support below the 0.76 threshold as expected after positive RSI divergence pointed to ebbing selling pressure

A daily close above support-turned-resistance at 0.7862 opens the door for a test of the 0.7609-28 area, marked by a horizontal pivot and the 61.8% Fibonacci retracement. Alternatively, a reversal below the 0.7752-75 area (trend line, 23.6% Fib expansion) paves the way for a challenge of the 38.2% barrier at 0.7695.

Positioning is inconclusive at this point. On one hand, a break of trend line resistance set from early April hints the near-term bias favors gains. On the other, the structural long-term down trend set from 2008 remains very much intact and in agreement with expected 2016 fundamentals. Opting for the sidelines seems prudent until greater clarity emerges.

EUR/GBP Technical Analysis: Waiting for Directional Conviction

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