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
Mixed
Oil - US Crude
Bearish
Wall Street
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
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: US 500: 1.28% Wall Street: 1.15% France 40: 0.15% Germany 30: 0.08% FTSE 100: 0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/vL9MgyBJF5
  • As risk sentiment takes a turn lower, high-beta currencies such as the Australian Dollar has been among the underperformers. Get your $AUDUSD market update from @JMcQueenFX here: https://t.co/nXadRykouT https://t.co/szzQ0PKNR2
  • Heads Up:🇨🇦 BoC Gov Poloz Speech due at 17:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-05-25
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.43%, while traders in US 500 are at opposite extremes with 77.00%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/xjdScTDBXn
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 2.57% Gold: -0.32% Silver: -0.56% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/nRUi0hbwoO
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.28% 🇬🇧GBP: 0.25% 🇦🇺AUD: 0.17% 🇨🇭CHF: 0.04% 🇯🇵JPY: -0.07% 🇪🇺EUR: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/noQ2M4dTit
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: US 500: 1.29% Wall Street: 1.24% France 40: 0.15% Germany 30: 0.10% FTSE 100: 0.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/AiUmtoNeVW
  • The British Pound is under renewed selling pressure this morning after BoE deputy governor for banking and markets said that the central bank is keeping ‘our whole tool set under active review'. Get your $GBPUSD market update from @nickcawley1 here: https://t.co/fY4HewczpL https://t.co/AX1qMeq8ks
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.31% 🇨🇦CAD: 0.19% 🇦🇺AUD: 0.18% 🇨🇭CHF: 0.04% 🇪🇺EUR: -0.05% 🇯🇵JPY: -0.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/qsrBgSzbb9
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Germany 30: 2.48% France 40: 1.56% FTSE 100: 1.37% US 500: 1.27% Wall Street: 1.15% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/U88jwizBUy
EUR/USD Shows No Life at Key Level, Major Leg Down Looks Next

EUR/USD Shows No Life at Key Level, Major Leg Down Looks Next

2020-05-14 11:40:00
Paul Robinson, Strategist
Share:

EUR/USD Highlights:

  • EUR/USD showing little life at major support
  • A break of the March low could lead to big move

EUR/USD showing little life at major support

The EUR/USD trend-line extending higher since the mid-1980s is something I have been discussing a lot lately due to its potentially massive impact on not only the single-currency but the entire FX market. How do I get the mid-1980s price when the Euro has only been around since the late 1990s?

By piecing together the constituents' currencies that make up the Euro going back to the days when FX began freely floating. Through this reconstructed lens we see a trend-line from 1985 to current. The way EUR/USD has failed to garner much buying interest around such a large threshold suggests that it wants to break, and possibly soon.

The coiling of price action since the March low points to a breakout to take place most likely in the weeks ahead. The big level to watch is 10635, the March low. A firm drop through could set into motion a powerful down-move that takes out the January 2017 low at 10340 quickly, followed by parity. Given the magnitude of the trend-line and general weakness of the Euro, it seems probable there is much further to go than just parity. We will continue to monitor in the weeks/months ahead…

Top Trading Lessons
Top Trading Lessons
Recommended by Paul Robinson
Find Out the #1 Mistake Traders Make
Get My Guide

EUR/USD Monthly Chart (BIG line-in-the-sand)

EUR/USD monthly chart

Data Source: Bloomberg

EUR/USD Daily Chart (wedge break, big level is 10635)

EUR/USD daily chart

EUR/USD Chart by TradingView

Resources for Forex Traders

Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

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

DISCLOSURES

News & Analysis at your fingertips.