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
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
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
Mixed
Oil - US Crude
Mixed
Bitcoin
Mixed
More View more
Real Time News
  • Forex Update: As of 11:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.44% 🇳🇿NZD: 0.07% 🇯🇵JPY: 0.05% 🇨🇦CAD: -0.03% 🇨🇭CHF: -0.07% 🇪🇺EUR: -0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/XqqrrlWAgH
  • Indices Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.20% US 500: 0.05% Wall Street: -0.00% France 40: -0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/32XnoceiRU
  • GBP/USD Faces a Risk of Reversal -British Pound to USD Price Forecast More details in the link below: https://www.dailyfx.com/forex/technical/home/analysis/gbp-usd/2019/12/11/GBPUSD-Faces-a-Risk-of-Reversal-British-Pound-to-USD-Price-Forecast-MK.html?CHID=9&QPID=917714 https://t.co/LsgLV9vBZ1
  • Final YouGov MRP Poll update $GBP https://t.co/vf9SsVARYo
  • LIVE IN 30 MIN: Join Currency Strategist @PaulRobinsonFX as he discusses important technical developments relevant to short to intermediate-term commodity and equity index traders. Register here: https://www.dailyfx.com/webinars/816147795?CHID=9&QPID=917720
  • USD/JPY Outlook Hints at Drop, Nikkei 225 May Join It - https://www.dailyfx.com/forex/technical/article/special_report/2019/12/11/USDJPY-Outlook-Hints-at-Drop-Nikkei-225-May-Join-It.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #USDJPY #technicalanalysis https://t.co/nFYCnCoIeX
  • Join @PaulRobinsonFX 's #webinar at 5:30 AM ET/10:30 AM GMT to gain insight on indices and commodities for the active trader. Register here: https://t.co/gghsFsZYlx https://t.co/ZKIWbxrDbl
  • If you are interested in UK equities, pre- and post-election, it's well worth taking a few minutes out to listen to this podcast 👍👍 @JeremyNaylor_IG @JoshWarner_IG @DailyFX https://t.co/hnB3c7aP59
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 98.02%, while traders in US 500 are at opposite extremes with 76.03%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/dFrubKes93
  • Commodities Update: As of 08:00, these are your best and worst performers based on the London trading schedule: Gold: -0.03% Silver: -0.22% Oil - US Crude: -0.58% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/7AaenKr6dx
Euro Nears Trendline - Indications of Equity Breakout

Euro Nears Trendline - Indications of Equity Breakout

2011-07-21 23:02:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

An extremely eventful last 24 hours as ‘risk’ (Euro, stocks, Aussie) fell overnight before soaring throughout the rest of the day. EURUSD 14140 and S&P 1315 were lows for the day and both appear on the verge of breaking higher still. To this point, I feel that it is futile to base trading decisions on news headlines, which seem to change every half hour – is there a debt deal? What? No debt deal? Pay attention to trend, support, and resistance and trade accordingly. The latter method is conducive to a more peaceful and antacid free existence.

EURUSD support is now 14360, 14330, and 14300. Short term bullish objectives are 14460 (trendline), 14520 (daily R1 pivot) and 14577 (monthly high) but there is a real possibility that this move from 14140 extends into the 15000s over the next few weeks. I welcome weakness in order to increase long exposure but am not willing to short.

AUDUSD support should be strong around 10800. It is possible that the pair is entering an accelerated period (known in Elliott wave as a 3rd wave) in which price will exceed its May high and extend into the mid 11000s.

EURAUD resistance is at 13375 - a rally to there may complete a corrective rally from the low. The level intersects with short term channel resistance early next week.

Today’s rally in equities was accompanied by impressive volume and one must consider the possibility that a breakout to new highs is around the corner. On balance volume is testing its trendline now as well (OBV will often break its trendline before price does).

I like an AUDCHF and or AUDJPY long position with stops at 8775 and 8420 in anticipation of a break higher in equities.

Key Daily Reversals – EURCAD (up)

Largest Daily Range in 10 days – EURCAD, EURUSD

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

DISCLOSURES

News & Analysis at your fingertips.