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
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
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • UK Government Official says either outcome is possible on Brexit
  • UK Government Official says if gaps in fisheries and level playing field are bridged, the EU's more constructive attitude will need to be translated into more realistic positions in the days to come
  • Big headline that says the EU has informed the UK that it must commit to some key demands in next week's trade talks if there is progress before the October deadlines. That said, I don't think this is a particularly new refrain between those two. It's the clock that matters
  • RT @Tams707: #USDZAR tests trendline resistance. Potential breakout in play? https://www.dailyfx.com/forex/market_alert/2020/09/25/South-African-Rand-Price-Forecast-USDZAR-Breakout-Potential-Brewing-LiveEdu-TDC.html
  • $USDZAR set up for next week (or two)... Weekly chart - Falling wedge taking on the tone of a bull flag. Confluent resistance that's held highs on Thurs & Friday. If USD rally continues, if EM remains with a question mark - $USDZAR a pretty interesting . Well done, Tammy https://t.co/Xqr64bnXFH https://t.co/BkY75zHgeg
  • I've been putting more focus on EURUSD and AUDUSD recently given the progress they have made, but the Dollar strength makes for an interesting contrast to the Chinese Yuan's own multi-month rally. $USDCNH https://t.co/Xx7f0gtbsl
  • What are some short term risks we are witnessing for the $AUDUSD? Find out from @JMcQueenFX here:https://t.co/BCe4Fi839A https://t.co/f2se4CXzZg
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: -0.07% 🇨🇭CHF: -0.17% 🇯🇵JPY: -0.21% 🇨🇦CAD: -0.30% 🇦🇺AUD: -0.31% 🇪🇺EUR: -0.36% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/yvqPsVHtE8
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: US 500: 0.42% Wall Street: 0.26% FTSE 100: 0.16% France 40: -0.78% Germany 30: -1.24% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/pcZu2bBI1e
  • Ambiguity abounds. The US open finds the $SPX loitering above its 100-day moving average as well as its technical 'correction' (-10% from highs) and below the neckline of its H&S break https://t.co/MlsRVbzkBi
Near-term Setups in AUD/USD, Ethereum and EUR/JPY

Near-term Setups in AUD/USD, Ethereum and EUR/JPY

2017-10-26 19:16:00
Michael Boutros, Strategist
Share:

Here's an update on the setups we’ve been tracking this week. Find a detailed, in-depth review of these setups and more in this week’s Strategy Webinar.

AUD/USD Daily Chart

AUD/USD Price Chart - Weekly Timeframe

I highlighted this chart in the Weekly Technical Outlook, noting that Aussie was approaching key support confluence support at ‘7630/65- a region defined by the 38.2% retracement of the 2016 advance, the 61.8% retracement of the May advance and the 52-week moving average. Note that this region converges on former trendline resistance (2016) and current slope support off the May lows.’

Heading into tomorrow’s U.S. GDP release / end of the week, the focus remains on a reaction into this zone with the immediate downside bias at risk. A weekly close below this region targets the 2016 trendline support / 50% retracement at 7476.Click here to review this week’s AUD/USD scalp report.

New to Forex? Get started with our Free Trading Guide!

ETH/USD: Ethereum prices have continued to hold within a tight range heading into the close of the week with our levels / outlook unchanged. Key focus range remains 275-312 with broader bullish invalidation steady at 257. A topside breach targets 350/55 backed by the record high-day close at 385.

Join Michael on Fridays for his bi-weekly Webinar on the Foundations of Technical Analysis- Register for Free Here!

EUR/JPY Daily Chart

EUR/JPY Price Chart - Weekly Timeframe

EUR/JPY turned from a big resistance confluence today at 134.29- a region defined by the 61.8% retracement of 2014 decline and basic slope resistance. The decline is encountering some near-term support here at the monthly open and while we could see some pullback, the focus remains lower sub-134. Downside support objectives are eyed at the 2016 high-day close / monthly opening-rang low at 131.70 backed by the 50-line, currently ~131.

See how shifts in retail positioning are impacting trend- Click here to learn more about sentiment!

---Written by Michael Boutros, Currency Strategist with DailyFX

Follow Michaelon Twitter @MBForex or contact him at mboutros@dailyfx.com

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

DISCLOSURES