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
  • Heads Up:🇰🇷 Inflation Rate YoY (JUL) due at 23:00 GMT (15min) Expected: 2.4% Previous: 2.4%
  • RT @IMFNews: What is an SDR? Learn more in this short video.
  • AUD/USD Price Outlook: Australian Dollar Awaits RBA Decision Link to Analysis - $AUD $AUDUSD #Trading
  • RT @RichDvorakFX: @tradingview $MOVE - reflects implied volatility for US Treasury bonds over the next 30 days.
  • USD/MXN trades directionless, oscillating between small gains and losses, near the 20.15 area. Get your $USDMXN market update from @DColmanFX here:
  • EUR/GBP looking to retest the 50-day moving average just below 0.8600 $EURGBP
  • USD/JPY appears to be on track to test the July low (109.06) following the Federal Reserve interest rate decision as longer-dated US Treasury yields come back under pressure. Get your $USDJPY marketing update from @DavidJSong here:
  • RBNZ: We will soon begin consulting on ways to tighten mortgage lending standards More below: $NZD
  • RT @BrendanFaganFx: USD/JPY Under Pressure Following Comments from Fed's Waller $USDJPY #FOMC #FederalReserve #trading Link: https://t.c…
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.34% 🇦🇺AUD: 0.26% 🇪🇺EUR: 0.03% 🇳🇿NZD: -0.00% 🇬🇧GBP: -0.14% 🇨🇦CAD: -0.27% View the performance of all markets via
EUR/USD Weekly Chart Analysis: Euro May Find Limited Follow-through

EUR/USD Weekly Chart Analysis: Euro May Find Limited Follow-through

Paul Robinson, Strategist


  • EUR/USD broke to 3-year highs, but faces a pair of minor obstacles in the week ahead
  • Prior resistance (2017 high) around 12092 is viewed as new support
  • In ‘wait-and-see’ mode from a tactical standpoint

Retail traders are short EUR/USD, see what this may mean in the short-term on the IG Client Sentiment page, and for the longer-term technical and fundamental outlook, check out the DailyFX Q1 Forecast.

The euro retraced to start last week, but finally broke out above the 2017 high. With EUR/USD trading in breakout territory, we will turn to the area surrounding last year’s high of 12092 as a source of support (former resistance becomes new support).

On Friday, the euro rallied to the top-side trend-line which connects the 2016 and 2017 highs, and while top-side trend-lines following breakouts aren’t considered the most significant form of resistance, it could be enough to cause upward momentum to stall.

The first minor price level to watch comes in at a swing-low created during the swoon of 2014; it arrives at 12247, not far beyond the 2016/17 trend-line. It’s not viewed as major resistance, but like the aforementioned trend-line, especially given the two forms of resistance are in near confluence, it could give cause for a pause at the least.

If both of these levels/lines are overcome, then there isn’t anything meaningful until the trend-line running down off the 2008 high, which isn’t until the 12500s. It’s unlikely we’ll have to concern ourselves with that in the coming week, but worth noting for later-on.

From a tactical standpoint, initiating new long positions to start the week doesn’t hold great appeal given the extension seen the past couple of days into possible roadblocks. Shorting into strong momentum isn’t appetizing, either. A pullback to support or consolidation could offer a decent risk/reward opportunity with a little patience.

Check out these 4 ideas on how to Build Confidence in Trading

EUR/USD: Daily

EUR/USD daily price chart

---Written by Paul Robinson, Market Analyst

To receive Paul’s analysis directly via email, please SIGN UP HERE

You can follow Paul on Twitter at @PaulRobinsonFX

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