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
EUR/USD
Mixed
Oil - US Crude
Bearish
Wall Street
Bullish
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.83% 🇦🇺AUD: 0.55% 🇨🇭CHF: 0.49% 🇳🇿NZD: 0.12% 🇨🇦CAD: 0.06% 🇯🇵JPY: 0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/U2Uq3eweT2
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Wall Street: 1.76% US 500: 1.50% Germany 30: -0.07% France 40: -0.25% FTSE 100: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/r8sNbOElUm
  • The ECB make no qualms about recognizing the Euro's impact on their policies (they didn't just a few years ago), but they still suggest they will only target the symptom (lacking inflation) rather than the cause (rising currency). Now, if their language starts to shift... https://t.co/f25EvBsfJf
  • Cable with a strong bounce from Fibo support $GBPUSD - higher-low support potential 2785-2815 https://t.co/kKURzmx61S https://t.co/iJIi1jy2uF
  • US 3-Month Bills Draw 0.100% Primary Dealers Awarded: 49.0% Indirect Bidders Accepted: 45.6% Direct Bidders Accepted: 5.3% B/C Ratio: 2.88
  • Technical Trade Levels: #Dollar, #Euro, #Sterling, #Aussie, #Gold, $SPX500 & More!- Webinar Archive - https://t.co/Kt5ikQmjG4
  • ECB's Lagarde says clear that external value of Euro has impact on inflation, adds that the ECB monitors FX movements $EUR
  • Dow, Nasdaq Rally as USD Pulls Back to Start a Busy Week https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2020/09/28/Dow-Nasdaq-Rally-as-USD-Pulls-Back.html https://t.co/YaFmp8eCqi
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.84% 🇦🇺AUD: 0.46% 🇪🇺EUR: 0.19% 🇳🇿NZD: 0.06% 🇨🇦CAD: 0.06% 🇯🇵JPY: 0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/yqSnFMey6l
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Germany 30: 3.35% France 40: 2.76% FTSE 100: 2.04% Wall Street: 1.79% US 500: 1.53% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/kD54uFfXzs
EUR/USD and CAC 40 Open Lower Ahead of ECB

EUR/USD and CAC 40 Open Lower Ahead of ECB

2017-06-05 11:54:00
Walker England, Forex Trading Instructor
Share:

Talking Points:

The EUR/USD and CAC 40 are turning lower for Monday, as traders await this week’s European Central Bank rate decision on June the 8th. Expectations for Thursday’s news are set to see interest rates kept at an effective 0.00%. However, traders of European markets should remember, any changes in monetary policy based off of new economic data may have the ability to affect markets.

Technically the EUR/USD remains in an uptrend for Monday, despite the pair turning under its 2017 high of 1.1285. Traders should note that for today, the EUR/USD’s 10 day EMA (exponential moving average) is found at 1.1220. This line is currently acting as a value of support, and if prices bounce above this point traders may again look for the pair to press towards new highs. If prices continue to fall below this point, this would suggest that a short term downtrend is developing. In a bearish scenario, traders may begin to target the May 30th swing low at 1.1109.

EUR/USD, Daily Chart with 10 day EMA

EUR/USD and CAC 40 Open Lower Ahead of ECB

(Created Using IG Charts)

Technically the CAC 40 is turning lower after testing the top of an ongoing range on Friday. Resistance for the range may be found near 5,375.50, and with the Index turning lower traders may begin to look for a move back towards support at 5,238.40. Traders should finally note that the 10 day EMA for the CAC 40 is currently found at 5,328.43. If prices breakout lower this week on news from the ECB, this value will continue to be referenced as a point of resistance. Alternatively, if prices begin to breakout above 5,375.50, it may then be referenced as a value of support.

CAC 40, Daily Chart with 10 day EMA

EUR/USD and CAC 40 Open Lower Ahead of ECB

(Created Using IG Charts)

--- Written by Walker, Analyst for DailyFX.com

To Receive Walkers’ analysis directly via email, please SIGN UP HERE

See Walker’s most recent articles at hisBio Page.

Contact and Follow Walker on Twitter @WEnglandFX.

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

DISCLOSURES