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.



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
Oil - US Crude
Wall Street
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
More View more
Real Time News
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.15% US 500: -0.19% FTSE 100: -0.22% Germany 30: -0.37% France 40: -0.46% View the performance of all markets via
  • Following last night's debate, the Commission on Presidential Debates (CPD) announced today that they: "will be carefully considering the changes that it will adopt and will announce those measures shortly". #PresidentialDebate2020
  • USD strength has shown in September but that’s been a change-of-pace to the bigger-picture trend of weakness. Which will take over in Q4? Get your $USD market update from @JStanleyFX here:
  • Pelosi says stimulus talks with Mnuchin will continue - BBG
  • Update on #Cryptocurrencies #BITCOIN -0.55% #BITCOINCASH -0.35% #ETHEREUM -0.68% #RIPPLE -0.46% #LITECOIN +1.08%
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.28% Gold: -0.31% Silver: -3.01% View the performance of all markets via
  • US Dollar: Ready to Rumble with High-Impact Data - EURUSD, AUDUSD
  • Senator McConnell signals that a deal is still far off on stimulus $SPX $DJI $DXY
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.18%, while traders in Wall Street are at opposite extremes with 69.58%. See the summary chart below and full details and charts on DailyFX:
  • In the very short term, price action in USD/CAD is likely to be distorted by month-end flows. The general view is that month-end is expected to be USD supportive. Get your $USDCAD market update from @JMcQueenFX here:
EUR/USD Weekly Technical Analysis: Euro Topping Pattern in Sight

EUR/USD Weekly Technical Analysis: Euro Topping Pattern in Sight

2017-10-13 22:00:00
Paul Robinson, Strategist

What’s inside:

  • EURUSD underwent a bounce last week, but that is all it appears to have been
  • Bearish intermediate-term pattern could soon come into full view
  • In the shorter-run the upper-11800s seen as problematic while mid-11600s seen as support

For a longer-term technical and fundamental outlook on EURUSD, see our Q4 Forecast.

The outlook for EURUSD heading into last week was for a bounce to develop, but that was all it was expected to be – a bounce. And now with resistance standing in the way and a broad topping formation dating back to early-August coming further into view, we’re ready to shift into reverse. The area from 11825 to 11880, as we noted a week ago, is viewed as a fairly formidable area of resistance. Should we see resistance hold as reliable and a decline soon develop, the ‘right shoulder’ of a ‘head-and-shoulders’ pattern could become cemented.

Support on weakness will come in at the neckline of the pattern, which arrives near the monthly low at 11669. Given the lack of recent volatility a break below there may not develop in the days ahead, but if we see a closing bar below the ‘neckline’ of the formation then a much broader move lower is expected. For now, though, the ‘neckline’ will be viewed for what it is – support. A strong push beyond the 11880/910 area will be needed if the bounce is to potentially develop into something more meaningful.


EUR/USD Weekly Technical Analysis: Euro Topping Pattern in Sight

Looking at the 4-hr time-frame, we can see the resistance zone which the euro is struggling at. In confluence with this zone is the trend-line running down off the September high, which adds even more importance to the area which the euro is currently struggling at.


EUR/USD Weekly Technical Analysis: Euro Topping Pattern in Sight

Confidence is essential to successful trading, see this new guide – 'Building Confidence in Trading'.

With the euro having a ~57% weighting in the US Dollar Index (DXY) we typically take a quick look at the benchmark. This week will be no different. The DXY is continuing its mirror-image ways to the euro all the while trading in a very big long-term support zone. There is trend-line support near-by off the September low in addition to support in the area surrounding 92.50. Of course for the ‘inverse head-and-shoulders’ to be validated it will need to carve out a ‘right shoulder’ soon and then cross above the ‘neckline’ of the formation near 94. If this is to happen it will almost certainly happen in unison with EURUSD crossing below its respective ‘neckline’.

US Dollar Index: Daily

EUR/USD Weekly Technical Analysis: Euro Topping Pattern in Sight

---Written by Paul Robinson, Market Analyst

You can receive Paul’s analysis directly via email bysigning up here.

You can follow Paul on Twitter at@PaulRobinonFX.

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