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
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
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
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
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • Learning how to trade does not have to feel foreign. Hone your skills and build your confidence with free DailyFX guides today! https://t.co/lnxaQOsgid https://t.co/7myL4vGnt8
  • Using margin in forex trading is a new concept for many traders, and one that is often misunderstood. Margin is the minimum amount of money required to place a leveraged trade and can be a useful risk management tool. Learn about margin trading here: https://t.co/qZCE5asCzM https://t.co/yxE0OmLIP0
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here: https://t.co/1mnOXUd00T https://t.co/iSrjZTeWwf
  • There are many different types of forex orders, which traders use to manage their trades. While these may vary between different brokers, there tends to be several basic FX order types all brokers accept. Learn about different FX order types here: https://t.co/WeLInepZiD https://t.co/7B0KI8HehW
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM73cHA https://t.co/vGW5BygTXU
  • When it comes to buying and selling forex, traders have unique styles and approaches. Learn about buying and selling forex here: https://t.co/xngExEdFdu https://t.co/kqpJ6oGXgt
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/F4dXbUzU3o https://t.co/G0ZWWVtSrZ
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfIZNKr https://t.co/5js6tWk5bY
  • The Euro has regained lost ground against its major counterparts recently. Are further gains in the offing or is this just a short-term countertrend correction? EUR/USD, EUR/JPY, EUR/GBP, EUR/NZD key levels. Get your market update from @DanielGMoss here:https://t.co/Z71MZEIJWC https://t.co/YAr1kN4eKd
  • Coinbase’s impending initial public offering could provide the necessary fuel for Bitcoin to push to fresh record highs in the coming days. Get your market update from @DanielGMoss here:https://t.co/twdu0zqmIM https://t.co/72HRMZlKUn
US Dollar Price Action Setups in EUR/USD, GBP/USD and AUD/USD

US Dollar Price Action Setups in EUR/USD, GBP/USD and AUD/USD

James Stanley, Senior Strategist

Forex Talking Points:

- If you’re looking to improve your trading approach, our Traits of Successful Traders research could help. This is based on research derived from actual results from real traders, and this is available to any trader completely free-of-charge.

- If you’re looking for a primer on the FX market, we can help. To get a ground-up explanation behind the Forex market, please click here to access our New to FX Trading Guide.

If you’d like to sign up for our webinars, we host an event on Tuesday and Thursday, each of which can be accessed from the below links:

Tuesday: Tuesday, 1PM ET

Thursday: Thursday 1PM ET

US Dollar, EUR/USD, GBP/USD, AUD/USD Talking Points:

Tomorrow brings the Good Friday Holiday, and Monday is Easter, meaning many Western markets will be closed in observance of holidays. But in an ironic twist, many markets began to show breakout tendencies ahead of the weekend despite the fact that much of 2019 trade has been populated by back-and-forth price action.

In this webinar, I tried to take a step back to look at the bigger picture across a series of US Dollar backdrops.

US Dollar Pushes Towards Key Resistance

At the source of many of the current FX moves, the US Dollar has finally began to trade-higher after a general tone of weakness had populated early Q2 trade. As of the Tuesday webinar, the US Dollar was without much to speak of for trends. But that began to shift yesterday and hit fever pitch today as USD bulls pushed prices up to fresh two-week-highs, with price action testing above a descending trend-line connecting the March, April highs.

This makes for a difficult backdrop to plot for USD-strength given the context, and this can keep the door open to a pullback to support in the early-portion of next week, perhaps around the 97.00 level, to look for re-engagement at 97.70.

US Dollar Eight-Hour Price Chart

us dollar usd eight hour price chart

Chart prepared by James Stanley

EURUSD Breaks Below Bear Flag – but Can Bears Push the Breakout?

Going along with that move of strength in the US Dollar has been a bearish push in EURUSD. The pair has broken below the bear flag formation looked at yesterday, and prices made a quick-run towards longer-running range support from 1.1187-1.1212; and as looked at this morning – that made for a difficult prospect around risk-reward in bearish scenarios.

Similar to the US Dollar above, plotting for fresh breakouts around holiday conditions can be a difficult prospect. This keeps the door open for another support inflection at this key zone. Bearish breakouts can be sought on a push below 1.1175 in the early-portion of next week, and sellers also have the option of looking for a pullback to prior support around 1.1250 to re-open the door for bearish trend strategies.

EURUSD Four-Hour Price Chart

eur/usd eurusd four hour price chart

Chart prepared by James Stanley

GBPUSD: Bear Trap Potential Ahead of Holiday Trade

GBPUSD is in a similar spot as EURUSD above, where a longer-term case of digestion has come into focus ahead of the holiday. In GBP/USD, the pair has been building a descending triangle over the past couple of months, with multiple inflections around support from 1.2960-1.3000, while resistance has continued to come-in at lower-highs over the past month. Such a formation will often be approached in a bearish fashion, looking for the motivation that’s driven-in sellers at lower-highs to, eventually, take-out the horizontal level of support.

The big question is whether that can happen now as holiday conditions near. This could be a bear trap that traders want to avoid until next week might present a cleaner backdrop for near-term analysis.

GBP/USD Four-Hour Price Chart

gbpusd gbp/usd four hour price chart

Chart prepared by James Stanley

AUD/USD Holds Resistance at Key Fib – Range Continuation or Eventual Bullish Break?

I’ve been focusing on the range in AUD/USD over the past month and, by and large, that’s worked out well. Yesterday saw the top-side of ‘r2’ come into play at .7206, which is a long-term Fibonacci level, and this has helped to hold the highs in the pair. Prices reacted by dropping 70-pips off of that level but, curiously, as US Dollar strength has run rampant, AUD/USD has seen softening around the lows, with buyers offering support in the prior zone of ‘r1’ resistance. This can place emphasis on an area from .7113-.7125, looking for buyers to hold up the lows there in order to bring on another resistance test at .7185-.7206.

AUD/USD Four-Hour Price Chart

audusd aud/usd four hour price chart

Chart prepared by James Stanley

To read more:

Are you looking for longer-term analysis on the U.S. Dollar? Our DailyFX Forecasts for Q4 have a section for each major currency, and we also offer a plethora of resources on USD-pairs such as EUR/USD, GBP/USD, USD/JPY, AUD/USD. Traders can also stay up with near-term positioning via our IG Client Sentiment Indicator.

Forex Trading Resources

DailyFX offers an abundance of tools, indicators and resources to help traders. For those looking for trading ideas, our IG Client Sentiment shows the positioning of retail traders with actual live trades and positions. Our trading guides bring our DailyFX Quarterly Forecasts and our Top Trading Opportunities; and our real-time news feed has intra-day interactions from the DailyFX team. And if you’re looking for real-time analysis, our DailyFX Webinars offer numerous sessions each week in which you can see how and why we’re looking at what we’re looking at.

If you’re looking for educational information, our New to FX guide is there to help new(er) traders while our Traits of Successful Traders research is built to help sharpen the skill set by focusing on risk and trade management.

--- Written by James Stanley, Strategist for DailyFX.com

Contact and follow James on Twitter: @JStanleyFX

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

DISCLOSURES