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
Bearish
Oil - US Crude
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
Wall Street
Mixed
Gold
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
GBP/USD
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
USD/JPY
Bullish
More View more
Real Time News
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.20% 🇳🇿NZD: 0.12% 🇨🇦CAD: 0.10% 🇨🇭CHF: -0.01% 🇯🇵JPY: -0.02% 🇪🇺EUR: -0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/heYtrV7dTD
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.61% France 40: 0.57% Wall Street: 0.56% US 500: 0.55% Germany 30: 0.53% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/qOR5cU4JZ1
  • AUD/JPY IG Client Sentiment: Our data shows traders are now net-long AUD/JPY for the first time since Sep 16, 2020 11:00 GMT when AUD/JPY traded near 76.69. A contrarian view of crowd sentiment points to AUD/JPY weakness. https://www.dailyfx.com/sentiment https://t.co/ixxjaexZoP
  • The US Dollar is struggling against ASEAN currencies despite weakness in the S&P 500. Capital remains flowing into emerging markets, keeping USD under pressure, could this change? Find out from @ddubrovskyFX here:https://t.co/nwhy3XhE74 https://t.co/5S6AARA0DA
  • Gold prices is consolidating at US$ 1,868 - its 100-Day Simple Moving Average (SMA) line. Will it hold above this key support level? https://t.co/o0BM7ABeka
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.23% Gold: -0.07% Silver: -0.97% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/X6JBrsCCnF
  • While @IG_US Client Sentiment is offering a mixed outlook for the S&P 500 and #Dow Jones, these could be at risk to a turn lower based on multiple bearish technical warning signs. Get your market update from @ddubrovskyFX here:https://t.co/9kYnq6hH1f https://t.co/bLHDVvd44Q
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.15% 🇳🇿NZD: 0.11% 🇨🇦CAD: 0.06% 🇪🇺EUR: -0.01% 🇨🇭CHF: -0.01% 🇯🇵JPY: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/p80ihot5KY
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.00%, while traders in EUR/GBP are at opposite extremes with 67.34%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/PHdbvQq8kU
  • Copper prices may continue to push higher despite a worrying surge in Covid-19 cases and the lack of progress in Congressional stimulus negotiations. Get your #copper market update from @DanielGMoss here:https://t.co/N2OW566nID https://t.co/VJfjTNDdZI
Technical Analysis for EUR/USD, USD/CAD, AUD/NZD & More

Technical Analysis for EUR/USD, USD/CAD, AUD/NZD & More

2019-02-05 11:30:00
Paul Robinson, Strategist
Share:

EUR/USD is acting as it has for what is seemingly forever now, stopping and reversing after only a short run; support may come back into focus soon. USD/CAD is testing long-term confluent trend support. AUD/NZD is reinforcing an area of support, but interest lies in seeing that support break at some point in line with the broader trend.

Technical Highlights:

  • EUR/USD reversing off trend-lines may have support in view soon
  • USD/CAD trend-line, 200-day combo could put in floor
  • AUD/NZD bouncing off support, but may break soon

See where our team of analysts see your favorite markets and currencies headed in the months ahead on in the Q1 Trading Forecasts.

EUR/USD reversing off trend-lines may have support in view soon

The Euro is acting like the Euro, with momentum stopping in its tracks. It’s been that kind of market and until there is evidence of it changing (and it should at some point relatively soon with vol so low), we must continue to take what is presented to us.

The turn off confluent trend-line resistance could soon have support levels in focus by way of the lower parallel off the November low and January low around 11290. If EUR/USD can hold up after the push off last month’s low, it could trade higher but will have its work cut out for it as several forms of resistance stand in its way.

EUR/USD Daily Chart (t-lines keeping lid on price)

EUR/USD daily chart, t-lines keeping lid on price

Check out the Q1 Euro Forecast to see our analysts’ intermediate-term fundamental and technical outlook.

USD/CAD trend-line, 200-day combo could put in floor

The 600-point decline to start the year may be in for at least a retracement soon, with the 200-day and 1-year trend-line in the current vicinity. It’s an area we’ve looked at in recent webinars and with a little bullish price action soon it could help put in a floor. Ideally, a forceful rejection of sorts develops to help signal an increased likelihood that a reversal is underway. On the flip-side, if USD/CAD doesn't respond to support and moves horizontally, a breakdown from a consolidation may become the more likely path.

USD/CAD Daily Chart (t-line/200-day combo)

USD/CAD daily chart, t-line/200-day combo

Check out the Q1 Dollar Forecast to see our analysts’ intermediate-term fundamental and technical outlook.

AUD/NZD bouncing off support, but may break soon

AUD/NZD is not yet of interest, but with its inability to mount much of a recovery off the 10460/30 area a break could develop soon. This would be inline with the broken 2015 trend-line/bottom of a macro wedge and more immediately the trend off the summer highs. For now it is wait-and-see, but a breakdown could have the Jan 2 (GMT time) flash-crash lows in focus at some point in the not-too-distant future.

AUD/NZD Daily Chart (Watch support)

AUD/NZD daily chart, watch support

Resources for Forex & CFD Traders

Whether you are a new or an experienced trader, DailyFX has several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

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

DISCLOSURES