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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
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
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
  • *Reminder: Weekly Strategy Webinar tomorrow morning at 8:30am EST on DailyFX - Mid-Week Market Check Up with IG on Wednesday at 9:30am EST -
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here:
  • The US 10-Year Treasury yield has advanced for four consecutive weeks for the longest such stretch since September 2018. Yet this isn't just a US issue. Yields are up globally. Perhaps most impressive is Japan's 10yr adv...
  • Rising Treasury yields inspired a broad selling in global equities last week. The longer-term outlook remains positive however on the back of the reflationary theme, strong earnings and vaccine progress. Get your market update from @margaretyjy here:
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here:
  • Although the longer-term technical outlook for AUD remains skewed to the topside, recent developments suggest the commodity-sensitive currency could lose ground against USD and JPY. Get your market update from @DanielGMoss here:
  • ECB policymakers were out in force last week, saying they were watching Eurozone government bond yields, but yields rose anyway, and that’s positive for $EURUSD and the Euro crosses. Get your market update from @MartinSEssex here:
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here:
  • The GBP rally vs USD came to an abrupt end and reversal; this sets cable up for more selling in the week ahead. Get your market update from @PaulRobinsonFX here:
  • What are some trading takeaways from 2020, as we jump into the new year? Find out with your free guide here: #DailyfxGuides
US Dollar Price Action Setups: EUR/USD, USD/CAD, USD/JPY

US Dollar Price Action Setups: EUR/USD, USD/CAD, USD/JPY

James Stanley, Senior Strategist

US Dollar, Price Action, EUR/USD, USD/CAD, USD/JPY Analysis

  • After building in a range over the prior couple of months, the US Dollar has recently moved into a bearish trend.
  • The USD found some element of support this morning at a familiar area, taken from around 97.50 on the chart.
  • This sets up for some interesting possible scenarios in a number of major pairs. In this article I look at EUR/USD, USD/CAD and USD/JPY; but the linked webinar shows a number of other USD-pairs, as well.
  • The USD will remain in focus as a couple of big data releases punctuate this week’s economic calendar, previewed here by our own Rich Dvorak.

US Dollar Builds into a Bearish Trend, Finds Support

After a riveting month of March the US Dollar went into a range, and that lasted for almost two full months as buyers and sellers swapped control and the currency meandered within a relatively tight space. That range has come under fire over the last week as sellers have further taken control, pushing the currency down to fresh two-month-lows, and bringing into play a prior support/resistance level of interest around the 97.50 spot on the chart.

As looked at in the webinar, this could be an area for possible counter-trend bounce, opening the door for resistance potential at 98.27, 98.82 or perhaps even the 100 level. Below, I look at a number of major currency pairs on either side of the matter in the USD.

US Dollar Four-Hour Price Chart

US Dollar Four Hour Price Chart

Chart prepared by James Stanley; USD on Tradingview

Starts in:
Live now:
Mar 02
( 18:03 GMT )
James Stanley's Tuesday Webinar
Trading Price Action
Register for webinar
Join now
Webinar has ended

EUR/USD Probes a Big Long-Term Zone

I’ve been following the 1.1212 price for quite some time in EUR/USD. It’s the 61.8% retracement of the 2000-2008 major move in the pair. Perhaps more importantly, there are a litany of prior examples of this price coming into play as both support and resistance.

More recently, another level close to that has come into play at around 1.1187. This is also a 61.8% retracement, but this is taken from the 2017-2018 major move; creating an element of confluence at this zone on the EUR/USD chart.

Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 3% -24% -14%
Weekly -2% -24% -16%
Current Retail Sentiment in EUR/USD
Get My Guide

Through last year, this support zone came into play multiple times and, in early-August, helped to hold lower-high resistance before the pair pushed down to fresh two-year-lows. With this zone re-entering the equation after a really strong run in EUR/USD (going along with that bearish trend in the USD), this could open up the possibility of reversal strategies in EUR/USD.

EUR/USD Four-Hour Price Chart

EURUSD Four Hour Price Chart

Chart prepared by James Stanley; EUR/USD on Tradingview

USD/CAD Breaks Down, Finds Support at 1.3500

I had looked at the bearish side of USD/CAD last week as the pair had built into a descending triangle formation. That short-side theme filled in very quickly this week, with the pair breaking down to fresh lows, eventually finding some support in the 1.3500 area on the chart.

Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily -26% 19% -15%
Weekly -33% 43% -18%
Current Retail Sentiment in USD/CAD
Get My Guide

Of interest – there is some unfilled gap from the major move in March underneath that 1.3500 spot; but with the pair looking to be oversold on a near-term basis, resistance potential could re-open the door for bearish strategies. An area of interest exists around the 1.3600 level in the pair as there are two Fibonacci levels within close proximity.

USD/CAD Four-Hour Price Chart

USDCAD Four Hour Price Chart

Chart prepared by James Stanley; USD/CAD on Tradingview

USD/JPY Rip-Roaring Rally with Risk-On Mode

While USD weakness has been fairly pronounced in many pairings, USD/JPY would be a notable exception as Yen weakness has outpaced that recent bearish move in the USD. This may set up a scenario in which USD-strength can be sought, even as the currency is in its own generally bearish pattern; or, perhaps, that Yen weakness could be applied to another currency that has been strong, such as AUD to focus in on a really strong recent theme in AUD/JPY.

Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily -19% -3% -13%
Weekly -11% 5% -5%
Current Retail Sentiment in USD/JPY
Get My Guide

At this point, it seems as though JPY weakness has some element of alignment with the continued risk-on scenario; and this could be helpful for currency strategies around both the USD and JPY.

USD/JPY Four-Hour Price Chart

USDJPY Four Hour Price Chart

Chart prepared by James Stanley; USD/JPY on Tradingview

--- Written by James Stanley, Strategist for

Contact and follow James on Twitter: @JStanleyFX

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