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
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
Bullish
USD/JPY
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
Bullish
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • The Euro’s struggle to move higher against a range of currencies continues and without further support this is likely to continue into the year-end. Get your $EURUSD market update from @nickcawley1 here: https://t.co/myZ7R0eGUb https://t.co/12WJd53Cx4
  • The #Dow Jones moved confidently higher last week as it added onto recent gains. Now, #stocks will aim to continue their rally while enjoying support from prior all-time highs. Get your technical analysis on #equities from @PeterHanksFX here: https://t.co/Qb89HIWxBY https://t.co/HMguTvD157
  • How can you trade #forex after a major release? Find out: https://t.co/sdxcXb8q60 #tradingstyle https://t.co/LNcbvVhIc2
  • Have you been catching on your @DailyFX #podcast "Global Markets Decoded"? Catch up on them now, before new episodes release! https://t.co/mk1w1DM2Rh https://t.co/m763epaH2C
  • Crude #oil prices, $NOK and $SEK may rise if Donald Trump’s speech on trade war developments amplifies market buoyancy against the backdrop of critical US CPI and retails sales data. Get your market update from @ZabelinDimitri here:https://t.co/5rdK7xsQNq https://t.co/YnlQjKNZdS
  • RT @next_china: U.S., China chief trade negotiators spoke by phone on Saturday, Xinhua reports https://t.co/dMQtd0g4jY
  • The $AUDUSD and $EURUSD downtrend may prolong as traders counterintuitively buy into their descent. Meanwhile, the USD/CAD uptrend may accelerate on rising net-short bets. Get your market update from @ddubrovskyFX here: https://t.co/dlzJ31kf3f https://t.co/xp8P9MmCgb
  • As we head into next week, Cable is continuing to digest the massive leg higher last month, which at some point soon could mean another surge. Get your $GBPUSD technical analysis from @PaulRobinsonFX here: https://t.co/LJ42YhDe3X https://t.co/5hGwhGBpLB
  • Asia’s vast and growing importance to the world economy is not yet matched by the presence of a currency trading center to rival the established order. Get your update on market drivers in Asia from @DavidCottleFX here: https://t.co/E2hqoRdO7q https://t.co/urMnUCq4fn
  • RT @markets: White-hot pot stocks have flamed out in spectacular fashion https://t.co/3GsVsRyZaZ
Euro Price Chart: EUR/USD Uptrend on Verge of Collapse

Euro Price Chart: EUR/USD Uptrend on Verge of Collapse

2019-11-05 07:00:00
Dimitri Zabelin, Junior Currency Analyst
Share:

US Dollar Outlook, EUR/USD – Talking Points

  • The US Dollar could suffer if key industrial data misses again
  • Manufacturing sector has been under pressure from trade war
  • EUR/USD uptrend may be on verge of collapse: selloff ahead?

Learn how to use political-risk analysis in your trading strategy!

APAC Recap

The Australian Dollar rallied along with APAC equities at the expense of the Japanese Yen early into Tuesday’s Asia trading session after news broke that the US is considering peeling back some of its tariffs against China. Investors rejoiced on the prospect that levies totaling $112 billion could be repealed and lead to more fruitful US-Sino trade negotiations.

EUR/USD Eye Key US Data

EUR/USD’s October 1 uptrend may be in jeopardy of a fatal break as the pair hovers dangerously close to the lower lip of the support zone. As noted on Monday, negative RSI divergence, while not a guarantee of reversal, is showing slowing upside momentum. A slew of US industrial data could either catalyze a downside breakout if it triggers the Greenback’s appeal as a haven-linked asset or saps capital away from USD and buys the pair.

The latter scenario may be more likely because the current environment is currently placing a discount on anti-risk assets like the Japanese Yen and US Dollar. This is counter to what we have seen for most of 2019 where the US Dollar’s rise was being fueled by an urgency to hold highly-liquid assets in the face of deteriorating global growth prospects.

With trade tensions easing and anxiety about Brexit temporarily subsiding, investors are feeling more inclined to prioritize returns over assets with high liquidity. However, this respite may be short-lived if fundamental risks that have haunted markets for most of 2019 make a reprisal. If they do, EUR/USD may resume its prior downtrend at an accelerated pace, potentially undoing all the progress it made during the October uptrend.

Market Analysis of the Day: EUR/USD Uptrend in Danger of Breaking?

Chart showing EUR/USD

EUR/USD chart created using TradingView

EUR/USD TRADING RESOURCES

--- Written by Dimitri Zabelin, Jr Currency Analyst for DailyFX.com

To contact Dimitri, use the comments section below or @ZabelinDimitrion Twitter

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

DISCLOSURES

News & Analysis at your fingertips.