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
Bullish
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
Oil - US Crude
Bullish
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
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
Bullish
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
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • Retail trader data shows 48.82% of traders are net-long crude oil with the ratio of traders short to long at 1.05 to 1. https://t.co/EqqMQjbHt9
  • The S&P 500 may cautiously rise if investors believe a breakthrough in fiscal talks could be made before the November 3 election. Markets now brace for the final presidential debate. Get your S&P500 market update from @ZabelinDimitri here:https://t.co/CQgeT55Ax3 https://t.co/kbFybIBFhE
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.40% 🇳🇿NZD: 0.39% 🇨🇦CAD: 0.20% 🇪🇺EUR: 0.17% 🇨🇭CHF: 0.11% 🇯🇵JPY: 0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/syhc439Snn
  • Technically, the Nasdaq 100 index appears to have formed a bearish “AB=CD” pattern (chart below). An immediate support level can be found at 11,650, where the 38.2% Fibonacci retracement and the 20-Day Simple Moving Average (SMA) line overlap. https://t.co/XJ55wo834j
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.62%, while traders in EUR/USD are at opposite extremes with 72.91%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/Yso2dgKU4I
  • 10 out of 11 S&P 500 sectors closed in the green, with 70% of the index’s constituents ending higher yesterday. Energy (+1.13%) and financials (+0.82%) and were among the better performers, whereas consumer staples (-0.11%) and healthcare (+0.13%) were lagging. https://t.co/XbJZafP2qG
  • Broad risk-on tilt seen early in APAC trade - Haven-associated $USD and $JPY sliding to fresh session-lows as the risk-sensitive $AUDUSD climbs higher. - #Gold eyeing a push to session-highs while #SP500 futures hover relatively steady - #Crudeoil attempting to push back to $42 https://t.co/Uh2YW4jeAP
  • Netflix fell over 5% after its Q3 results came sharply below forecasts in terms of earnings-per-share (EPS), new subscribers and forward guidance due to a drastic slowdown in sign-ups in the summer season. https://t.co/faqGMEJlHb
  • Wall Street Futures Update: Dow Jones (+0.43%) S&P 500 (+0.40%) Nasdaq 100 (+0.51%) [delayed] -BBG
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here: https://t.co/ERyiY47G5H https://t.co/ysyX7W3yGa
Trading Video: EURUSD Breakout Has Problems, Pound Trades in Focus Again

Trading Video: EURUSD Breakout Has Problems, Pound Trades in Focus Again

2014-06-26 01:01:00
John Kicklighter, Chief Strategist
Share:

Talking Points:

EURUSD managed to break a short-term range, but follow through will struggle with the chosen direction

• To overcome quiet market conditions, we need technical breaks that leverage fundamental trends

• Ahead, the Pound has key event risk and appealing trade setups; while the Dollar and Yen face key data

Do you want to see FX market volume and incorporate it into your trading strategy? Sign up for the FXCM Real Volume and Transaction Volume Indicators.

A short-term breakout - like that won by EURUSD this past session - fits the kind of market conditions we have been dealt with as of late...unless it is a break against the prevailing fundamental and technical trends. The benchmark currency pair managed to clear a 6-week trendline around 1.3625 to resolve a terminal range, but the difference between US and Eurozone monetary policy bearings present a serious headwind to generating follow through. This same technical versus fundamental mentality has sapped the drive out of the S&P 500's attempt at a reversal and GBPUSD's break above 1.7000. In today's Trading Video, we look at the key event risk ahead and work out the best scenarios alongside the technical picture for the best trade opportunities.

Sign up for John’s email distribution list, here.

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

DISCLOSURES