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
Mixed
Oil - US Crude
Bearish
Wall Street
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
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • The FDA has approved the Pfizer-BioNTech vaccine for children aged 12-15 - BBG
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.92% 🇨🇦CAD: 0.14% 🇨🇭CHF: -0.08% 🇯🇵JPY: -0.23% 🇳🇿NZD: -0.25% 🇪🇺EUR: -0.29% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/tOILFlOHUE
  • US Labor Sec. Marty Walsh: Unemployment payments are not a deterrent of jobs $USD
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Gold: 0.32% Oil - US Crude: -0.09% Silver: -0.44% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/tK1AM3xwih
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.87%, while traders in Wall Street are at opposite extremes with 81.61%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/nUJ0iqkh2M
  • Bitcoin selling off over the last hour, now down more than 5% today $BTCUSD #BTC https://t.co/bZlTmyTo67
  • Well, that was an ugly close. $SPX 15min chart: https://t.co/HRlti80bvf
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: US 500: 0.04% Wall Street: 0.03% France 40: -0.58% Germany 30: -0.61% FTSE 100: -0.72% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/e6fmDyQxPH
  • U.S. State Department lowers U.K. travel advisory to level 3 - BBG $GBPUSD
  • Becoming a forex trader means living and breathing the excitement, risk and reward of trading in the biggest and most liquid market in the world. Do you have what it takes? Read here to discover the qualities and processes it takes to build consistency: https://t.co/EfWEACQ6Cz https://t.co/7yjat28GJw
Euro May Turn Lower vs. US Dollar as Upswing Falters Below 1.20

Euro May Turn Lower vs. US Dollar as Upswing Falters Below 1.20

Ilya Spivak, Head Strategist, APAC

EUR/USD TECHNICAL ANALYSIS: NEUTRAL

  • Euro extended higher after forming bullish H&S chart formation
  • Negative RSI divergence now hinting at a downturn in the works
  • Retail trader positioning offers mixed EUR/USD trend guidance

The Euro extended upward against the US Dollar after completing a bullish Head and Shoulders chart pattern, as expected. In fact, prices surpassed the pattern’s implied upside target just shy of the 1.19 figure to hover at a one-month high within a hair of the 1.20 mark.

Early signs of exhaustion now seem to have emerged as prices retest swing tops from mid-March. Price action has been confined to a narrow range and negative RSI divergence points to ebbing upward momentum, which may set the stage for a reversal to the downside.

Initial support is in the 1.1947-51 zone, with a break below that opening the door for a test of 1.1913. Breaching that barrier may violate the series of higher highs and lows carved out since the start of April, implying a trend change. Alternatively, claiming a foothold above 1.2021 likely exposes 1.21 next.

Euro vs US Dollar price chart

EUR/USD 8-hour chart created with TradingView

EUR/USD TRADER SENTIMENT

IG Client Sentiment (IGCS) data implies that 64.6% of market participants are net-short EUR/USD, with the short-to-long ratio at 1.83 to 1. This is typically used as a contrarian indicator, suggesting that the dominant trend bias favors gains. Positioning is less net-short than yesterday however, opening the door for realignment if follow-through materializes. Still, a greater short-side tilt versus a week ago demands patience.

Euro vs US Dollar, EUR/USD, EURUSD price, retail sentiment

See the full IGCS sentiment report here.

EUR/USD TRADING RESOURCES

--- Written by Ilya Spivak, Head APAC Strategist for DailyFX

To contact Ilya, use the comments section below or @IlyaSpivak on Twitter

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

DISCLOSURES