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.

Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
Bullish
GBP/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
USD/JPY
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
More View more
Real Time News
  • It seems the markets are riding high, but risk is always lurking around the corner. Consider your escape plan before you find yourself in collapsing market. What are the top havens for different conditions in 2020? Find out from @JohnKicklighter here: https://t.co/xIAsZOq8Mf https://t.co/QZkShhSITl
  • Asia’s vast and growing importance to the world economy is not yet matched by the presence of a currency trading center to rival the established order. Get your update on market drivers in Asia here: https://t.co/r3Ku0p9dw1 https://t.co/kY2G5ijvJ9
  • Support and resistance are the cornerstone of technical analysis, making it the foundation that you build your knowledge on. Build a stronger foundation here: https://t.co/yXLaRpl90I https://t.co/MhP7opgk4a
  • Investors in stocks, commodity currencies and energy have been praying for a massive fiscal bazooka to combat the virus effects. It looks like they’re going to get it. Get your market update from @DavidCottleFX here:https://t.co/e2ciGSYftY https://t.co/Udoi5UMJrl
  • The ‘V-shaped’ recovery in USD/JPY just failed to hit its target and is now moving lower again. Important support is now being tested. Get your $USDJPY technical analysis from @nickcawley1 here: https://t.co/koiac0Rxvs https://t.co/CsVsS7PVMV
  • The Australian Dollar has been lifted from its multi-year lows by hopes that global financial authorities can fend off the worst of the #coronavirus‘ effects. Get your $AUDUSD market update from @DavidCottleFX here: https://t.co/GC5pwNbY9S https://t.co/OryobNq7uL
  • Before considering to enter a position, price action must come into contact with the upper or lower channel line at least three times. Learn how to validate a channel here: https://t.co/Rd5hDm7gRo https://t.co/mubPgmDRRY
  • A tidal wave of cash waits to return to virus-battered assets, backstopped by huge stimulus. It is unlikely to deploy until infection slows, whatever the US administration prefers. Get your market update from @DavidCottleFX here: https://t.co/OWOi2HxejD https://t.co/jvMXT7te1h
  • The bullish engulfing candle is one of the forex market’s most clear-cut price action signals for reversals and continuation. Learn more about this price action trading signal here: https://t.co/edEHzyoCJT https://t.co/vHPSW7Vm96
  • It was a big week for GBP/USD as Cable crushed shorts, rallying more than 1,000 pips off of last week’s lows. Get your $GBPUSD technical analysis from @JStanleyFX here: https://t.co/n6vYfe6Gfh https://t.co/zQq74Zzxsv
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
Share:

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

News & Analysis at your fingertips.