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. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Real Time News
  • The main focus in the FX space has been the Japanese Yen which continues to go up in smoke across the board. Get your market update from @JMcQueenFX here:
  • EUR/USD looking to close out the week above the key 1.16 level, now trading at 1.1603 $EURUSD
  • Free Bird was on the radio when I was getting my lunch. That is my 'an angle gets its wings' moment for the fall
  • Three Democrats urge House to pause overseas tax hike - Politico via BBG
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.22% Silver: -0.85% Gold: -1.58% View the performance of all markets via
  • Chinese growth projections for 2022 and 2023 have been revised marginally lower in the recent International Monetary Fund (IMF) Economic Outlook. Get your market update from @CVecchioFX here:
  • Well that was quite clean #Gold #XAUUSD
  • RT @KThomasDC: "To be honest with you, we’re probably not going to get $3.5 trillion this year," Biden says in Hartford. "We’re going to ge…
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.66%, while traders in GBP/JPY are at opposite extremes with 78.83%. See the summary chart below and full details and charts on DailyFX:
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Wall Street: 1.04% US 500: 0.72% France 40: 0.09% FTSE 100: 0.04% Germany 30: 0.01% View the performance of all markets via
Euro & Pound Pairs – Forex Analysis & Charts

Euro & Pound Pairs – Forex Analysis & Charts

Paul Robinson, Strategist

Charts in Focus:

EUR/USD bouncing off support around 11000 is starting to prove to be short-lived as it turns down off resistance via the trend-line from off the December high and the underside of the trend-line rising up from October. A break below 11000 could have the low from the fall under fire as new cycle lows appear to be in the works.

EUR/USD Daily Chart (hit resistance, could roll lower again)

EUR/USD daily chart

EUR/USD Chart by TradingView

EUR/JPY appears to be in a corrective-move off the recent low. A bear-flag could be in the pipeline, and with the cross-rate below the September trend-line, the broader downtrend looks ready to reassert itself. The 200-day may put a lid on the corrective up-move, while a breakdown below 11977 should have EUR/JPY rolling downhill again.

EUR/JPY Daily Chart (consolidation pattern could form here)

EUR/JPY daily chart

EUR/JPY Chart by TradingView

GBP/USDcontinues to find buyers around the 13000/12940-area. It appears though that this area of support is becoming increasingly weakened by the repeated attempts to break it. Should we see Cable get some separation soon, look for it to sell off towards the 200-day under 12700.

GBP/USD Daily Chart (holding support, for now)

GBP/USD daily chart

GBP/USD Chart by TradingView

GBP/JPY is finding good support around 14100/4080, which is keeping it buoyed for now. However, a descending wedge is coming into view and could spell trouble soon. Sterling versus both the Dollar and Pound looks set to eventually break support; however, support is support until it is broken.

GBP/JPY Daily Chart (descending wedge forming)

GBP/JPY daily chart

GBP/JPY Chart by TradingView

For all the charts we looked at, check out the video above…

Resources for Index & Commodity Traders

Whether you are a new or an experienced trader, DailyFX has several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, and trading guides to help you improve trading performance.

We also have a series of guides for those looking to trade specific markets, such as the S&P 500, Dow, DAX, gold, silver, crude oil, and copper.

---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.