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
Oil - US Crude
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
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here:
  • The US Dollar Index traded higher last week, sustaining its broader uptrend. Conflicting technical signals urge caution, but the directional bias remains skewed to the upside. Get your weekly USD technical forecast from @FxWestwater here:
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here:
  • The Australian Dollar still remains vulnerable as it extends losses against its major counterparts. What is the road ahead for AUD/USD, AUD/JPY, AUD/NZD and AUD/CAD? Get your AUD technical forecast from @ddubrovskyFX here:
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here:
  • Take a closer look visually at the most influential global importers and exporters here:
  • EUR/USD tumbled last week on the day of the ECB’s latest policy announcement, and that weakness is set to continue this week as a flood of major Eurozone economic statistics is released. Get your weekly Euro forecast from @MartinSEssex here:
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here:
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here:
  • Gold price action is primed for volatility next week with the Fed decision on deck. How real yields and the US Dollar react to fresh guidance from Fed officials will be key for gold outlook. Get your weekly gold forecast from @RichDvorakFX here:
Weekly Tech Outlook AUD/USD, EUR/AUD. Consolidation and Reversal

Weekly Tech Outlook AUD/USD, EUR/AUD. Consolidation and Reversal

Daniel Dubrovsky, Strategist

Talking Points – AUD/USD, EUR/AUD, Evening Star Candlestick Pattern

  • Despite bullish signs in AUD/USD, the Australian Dollar lost ground versus the greenback
  • AUD/USD prices might have set themselves up for consolidation as we head into Q4 next
  • Meanwhile, EUR/AUD prices may resume falling on bearish confirmation via weekly chart

Have a question about what’s in store for Australian Dollar next week? Join a Trading Q&A Webinarto ask it live!

AUD/USD Technical Outlook: Neutral

Despite the head and shoulders bullish reversal candlestick pattern in AUD/USD on the daily chart, the Australian Dollar lost ground against its US counterpart last week. Resistance held around 0.73106 which is the lows achieved back in July. It ultimately prevented the pair from testing the long-term descending trend line from February as well. With that in mind, the AUD/USD technical outlook will change to neutral next.

This is because the Australian Dollar s might have set itself up to enter consolidation mode in the week ahead as the pair oscillates between key support and resistance. The former seems to be a range between 0.7160 and 0.7145 which are the December and May 2016 lows respectively. The latter is the aforementioned July 2018 lows.

In the event of a breakout to the downside, AUD/USD may find its next area of support at 0.70852 which currently stands as this year’s low. Descending there would also invalidate the head and shoulders formation. Meanwhile, a push above resistance exposes the February trend line followed by descending resistance which is created by connecting the July and August highs.

AUD/USD Daily Chart

Weekly Tech Outlook AUD/USD, EUR/AUD. Consolidation and Reversal

EUR/AUD Technical Outlook: Bearish

Meanwhile, the bearish technical outlook for EUR/AUD prices remains despite support holding up on the daily chart. This is because when looking at the EUR/AUD weekly chart, progress was made further to the downside after the formation of an evening star bearish reversal pattern. Analyzing weekly charts can offer insights to a more forward-looking outlook that may cancel out near-term noise.

EUR/AUD Weekly Chart

Weekly Tech Outlook AUD/USD, EUR/AUD. Consolidation and Reversal

With that said, we are closely watching key horizontal support on the EUR/AUD daily chart which is around 1.60587 as the 38.2% Fibonacci retracement level. This area has kept prices at bay on numerous occasions in September including on the 4th, 19th and now the 28th. Breaking below would likely offer the chance for the pair to resume the downtrend it began via the evening star candle pattern earlier this month (also present on the daily chart).

Such an outcome would place the 50% midpoint as the next target at 1.59673 followed by the 61.8% retracement at 1.58759. Meanwhile, near-term resistance may be at 1.61717. Climbing above that then exposes the September 2015 & February 2016 highs at 1.62505. For updates on Australian Dollar prices, you may follow me on twitter here at @ddubrovskyFX.

EUR/AUD Daily Chart

Weekly Tech Outlook AUD/USD, EUR/AUD. Consolidation and Reversal

** Charts created in TradingView

Just getting started trading? See our beginners’ guide for FX traders to learn how you can apply this in your strategy!

FX Trading Resources

--- Written by Daniel Dubrovsky, Junior Currency Analyst for

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter

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