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
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
Oil - US Crude
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
Wall Street
Bearish
Gold
Bullish
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • The USD/MXN has broken below a key pivot zone but the follow-though looks a bit tired here. Get your $USDMXN market update from @MBForex here:https://t.co/mCa70wzCfz https://t.co/dyL8MlqXj7
  • RT @DailyFX: Can big tech post another miracle earnings season? Find out from @PeterHanksFX here: https://t.co/8RGba8tB8P https://t.co/tQZQ…
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 1.70% Gold: 0.95% Oil - US Crude: 0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/pdcpeF9zbc
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.61%, while traders in EUR/USD are at opposite extremes with 73.13%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/dqXvVj6gcX
  • Fed Beige Book: - Districts saw modest price increases since last report - Food, autos, and appliances increased significantly in price - Firms continue to take on additional costs related to Covid, including ppe and technology to work from home $SPX $NDX $DXY
  • Fed Beige Book: - Economic output continued to increase across all Fed Districts at a slight to moderate pace - Manufacturing activity increased at a moderate pace in general - Consumer spending growth continues to be positive $DXY
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: US 500: 0.05% Germany 30: 0.05% France 40: -0.11% FTSE 100: -0.12% Wall Street: -0.16% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/qRmsVvTyG6
  • Heads Up:🇺🇸 Fed Beige Book due at 18:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-10-21
  • Senate Democrats have the votes required to block GOP on aid bill $DXY $SPX
  • Senator Shelby says he is open to $1.9 trillion virus aid package depending on details - BBG
Strategy Video: Setting Entries for a EURUSD Break, RBNZ Rate Decision

Strategy Video: Setting Entries for a EURUSD Break, RBNZ Rate Decision

2014-06-10 22:03:00
John Kicklighter, Chief Strategist
Share:

Talking Points:

• Entry orders are a great way to set up trades when you are offline, but sometimes they are inappropriate

• Setting an entry to trigger on a major technical break or reversal - like EURUSD - can lead to false moves

• An entry order and event risk - like the upcoming RBNZ - is another recipe for false entries

Expect breakouts? Use the DailyFX Breakout 2 strategy to signal or confirm setups!

What kind of Trading best suits you? Technical or Fundamental? Short-term or Long-term? Take our Trader Survey and find out.

Setting entry orders that can execute a trade as it unfolds even if you're offline is a great tool. However, it can also bring with it its own risks. A good example of the pitfalls in placing entry orders is well illustrated by EURUSD which broke a key technical support last week in the wake of the ECB rate decision before completely reversing the move shortly after. While we cannot establish with certainty whether a break or drive that is setting up will be genuine or fake ahead of time, there are both technical and fundamental criteria that can help filter out the unnecessary risk. We discuss the right time to place entry orders making examples of EURUSD this past week and the New Zealand dollar ahead of the RBNZ rate decision in today's Strategy Video.

Sign up for John’s email distribution list, here.

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

DISCLOSURES