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
Wall Street
Bearish
Gold
Bullish
GBP/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
USD/JPY
Bearish
More View more
Real Time News
  • Brush up your knowledge on trade-wars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here: https://t.co/ZWaL6laTU5 https://t.co/MX68zib6BX
  • https://t.co/2ITVYWYrf4 https://t.co/PBzWTjcs05
  • Market Update $USD and $JPY slipping from session-high as the risk-sensitive $AUDUSD attempts to claw back lost ground #ASX200 continuing to storm higher while #gold, #crudeoil and #SP500 futures struggle to rebound from session-lows
  • Heads Up:🇹🇭 Balance of Trade (SEP) due at 03:30 GMT (15min) Expected: $3.55B Previous: $4.35B https://www.dailyfx.com/economic-calendar#2020-10-22
  • The Hang Seng Index shrugged off US election risks and erased some earlier losses. Will it attempt to break through a key resistance at 24,750 and open the room for further upsides? https://t.co/7yccetD8JA
  • Crude oil prices extend losses after falling 4% as sentiment soured. The API report showed an unexpected rise in US stockpiles, dragging the energy sector lower. Besides, fading hope for an immediate stimulus package and rising coronavirus cases also weighed demand prospects. https://t.co/X2om6N6jMZ
  • Wall Street Futures Update: Dow Jones (-0.72%) S&P 500 (-0.77%) Nasdaq 100 (-0.75%) [delayed] -BBG
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: -0.57% Oil - US Crude: -0.61% Silver: -1.23% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/0ibghTmmlc
  • Forex sentiment analysis can be a useful tool to help traders understand and act on price behavior. Learn how to get the most out of understanding trader sentiment here: https://t.co/LjEjTexrCg https://t.co/c4XNv81lc9
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.08% 🇬🇧GBP: -0.12% 🇪🇺EUR: -0.14% 🇳🇿NZD: -0.17% 🇨🇦CAD: -0.21% 🇦🇺AUD: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/XKpWeyDYFg
Euro Forecast: EUR/USD Outlook Bearish Near Term, Bullish Long Term

Euro Forecast: EUR/USD Outlook Bearish Near Term, Bullish Long Term

2020-10-03 22:00:00
Martin Essex, MSTA, Analyst
Share:

Fundamental Euro Forecast: Mixed

  • The bounce in EUR/USD last week looks to have run its course and a resumption of its previous slide lower is now possible.
  • Longerterm, however, the pair is well placed to benefit from any US Dollar weakness as the US elections in November approach.
Advertisement

EUR/USD price decline likely in coming days

Last week was an important one for EUR/USD, with the bounce predicted here a week ago duly taking place. In the process, the 20-day moving average crossed below the 50-dma – a bearish technical signal – and the 14-day relative strength index, which was signaling an oversold market, is no longer doing so.

This all suggests another move lower in the coming days, when a lack of top-tier Eurozone data will leave EUR/USD traders free to concentrate on the technical picture. In fact, the only numbers of note are the final September purchasing managers’ indexes for the service sectors in Germany, France and the Eurozone as a whole.

EUR/USD Price Chart, Daily Timeframe (July 1 – October 1, 2020)

EURUSD Price Chart

Source: Refinitiv (You can click on it for a larger image)

Longer term, however, the outlook is more positive – with caveats – as my colleague Ilya Spivak and I explain in our new DailyFX Euro Forecast guide to the fourth quarter of 2020, which we have just published. For a copy, just click on the link below to receive it in your inbox.

EUR Forecast
EUR Forecast
Recommended by Martin Essex, MSTA
Download our fresh Q4Euroforecast
Get My Guide
Starts in:
Live now:
Oct 27
( 10:10 GMT )
Recommended by Martin Essex, MSTA
Trading Sentiment
Register for webinar
Join now
Webinar has ended

We look at currencies regularly in the DailyFX Trading Global Markets Decoded podcasts that you can find here on Apple or wherever you go for your podcasts

--- Written by Martin Essex, Analyst

Feel free to contact me on Twitter @MartinSEssex

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

DISCLOSURES