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
Bearish
Oil - US Crude
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
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
Bearish
GBP/USD
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
USD/JPY
Bearish
More View more
Real Time News
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/G58J1dg6y3 https://t.co/fGi6YgqqQt
  • What suits your style of trading stocks or commodities? Find out what are the differences in these two markets here: https://t.co/BnA07cMV0s https://t.co/fdigOgkmio
  • A forex trader is strategic, disciplined and always switched on to the markets. Learn how to build an FX mindset here: https://t.co/tB3aAErd70 https://t.co/Ilqz8BWTk0
  • The final ‘full’ week of the year brings about the last wave of significant event risk from around the globe, including three central bank rate decisions (Fed, BOE, & BOJ). Get your market update from @CVecchioFX here:https://t.co/PhqxSPlngI https://t.co/XX57vSjQwV
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/HOvzuOICQx
  • Ever wonder if there are other chart types that can be sued for technical analysis? HLOC charts are discussed in the following article as well as their pros and cons. Learn more here: https://t.co/qV3c7a4YR3 https://t.co/32hYzqhuZ9
  • The Australian Dollar sits on the crossroads of Treasury yields, the S&P 500 and US fiscal stimulus expectations. Will $AUDUSD gains slow? Chinese Q4 GDP and Australian jobs data are due. Get your market update from @ddubrovskyFX here: https://t.co/BsYmmWFYOH https://t.co/HhLqb2iVgk
  • #Gold prices have come under significant pressure to kick-off 2021. However, the formation of bullish technical patterns across multiple timeframes suggests that a rebound higher may be at hand. Get your market update from @DanielGMoss here: https://t.co/Dpf8N4Fh0T https://t.co/pnZpnM9yT5
  • 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: https://t.co/Xr3xtoFpZy https://t.co/yCtLFemdNc
  • GBP underpinned as BoE downplays negative rates, alongside vaccine rollout. Get your market update from @JMcQueenFX here: https://t.co/n6V6uw0XV5 https://t.co/Toq2fxSdBE
US Dollar Trends Lower Ahead of News (Webinar)

US Dollar Trends Lower Ahead of News (Webinar)

2017-06-05 18:50:00
Walker England, Forex Trading Instructor

Talking Points:

In this webinar, we discuss the US Dollar ahead of this weeks stacked economic calendar. Traders will be primarily watching for Thursday’s ECB rate Decision, and the outcome of the upcoming UK election. Technically the US Dollar is bouncing for Monday, but the DXY remains trading beneath both its 10 day EMA (exponential moving average) and 200 day MVA (simple moving average). If the US Dollar weakens further this week, traders should look for prices to trade through the standing low at 96.65. Alternatively if prices rise, traders should first look for the US Dollar to trade above its 10 day EMA at 97.28.

New to trading or looking for other strategies? You may enjoy our trading guides

Daily DXY Chart with Averages

US Dollar Trends Lower Ahead of News (Webinar)

(Chart Prepared by Walker England)

With a series of large news events on the horizon, traders should continue to monitor both the EUR/USD and GBP/USD this week. Currently IG Client Sentiment for the EUR/USD reads at -2.41. 71% of traders are net-short the pair suggesting that the EUR/USD may rally higher. Sentiment figures for the GBP/USD are also negative. While not as extreme as the EUR/USD, a reading of -1.38 does have a bullish bias with 58% of traders currently net-short the pair. As this week’s trading develops, traders should continue to monitor sentiment for both pairs. A move to new negative extremes may suggest new highs for the EUR/USD and GBP/USD. However if prices decline, traders should look for both sentiment values to neutralize in the short term.

Why and how do we use IG Client Sentiment in trading? See our guide.

US Dollar Trends Lower Ahead of News (Webinar)

Interested in Joining Our Analysts, Instructors, or Strategists For a Free Webinar? Register Here

--- 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