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
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
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here:
  • (USD Weekly Tech) US Dollar Dominant Uptrend Back In Focus: EUR/USD, USD/JPY, NZD/USD, USD/CHF
  • What is your forex trading style? Take the quiz and find out:
  • Join @IlyaSpivak at 22:00 EST/2:00 GMT for his cross-market weekly outlook webinar. Register here:
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out
  • *Reminder: Weekly Strategy Webinar Monday morning at 8:30am ET - Mid-Week Market Update on Wednesday at 9:30am ET -
  • Are you new to trading? Technical analysis of charts aims to identify patterns and market trends by utilising different forms of technical chart types and other chart functions. Get a refresher on technical analysis or begin building your knowledge here:
  • (AUD Weekly Tech) Australian Dollar May Wilt, Downtrends Resume: AUD/USD, AUD/JPY, AUD/NZD, AUD/CAD
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here:
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here:
Euro Downtrend Intact, Monthly Chart Hints at Steep Drop Ahead

Euro Downtrend Intact, Monthly Chart Hints at Steep Drop Ahead

Ilya Spivak, Head Strategist, APAC


  • Monthly chart setup warns Euro vulnerable to prolonged decline
  • Near-term downtrend intact through bounce from November lows
  • Short EUR/USD position in play, looking for bearish resumption

See our free guide to get help gain confidence in your Euro trading strategy!

October ended with the Euro seemingly set to suffer deeper losses against the US Dollar. A look at the monthly chart reveals prices breached range top resistance-turned-support centered around the 1.15 figure – a pivotal inflection point since May 2015 – to suggest that a move toward a four-year range floor near 1.05 may well be in the cards in the months ahead.

Euro Downtrend Intact, Monthly Chart Hints at Steep Drop Ahead

The bearish bias remains upon examination of more actionable positioning on the daily chart, but the setup is far less immediately actionable than it might seem at first glance. Prices are resting resistance guiding the downswing from the downswing started in late September. It is thus far unclear whether this barrier will hold and bearish is resumption is to follow or if a breakout will precede a larger upside retracement.

Resistance is now at 1.1432, with a break above that confirmed on a daily closing basis opening the door for a test of the 1.1543-54 inflection region. Alternatively, a turn back below the 1.1279-1.1314 zone paves the way for a challenge of the swing low at 1.1218. The absence of a bearish reversal signal or a clear-cut break makes it unclear which scenario might prevail however.

Euro Downtrend Intact, Monthly Chart Hints at Steep Drop Ahead

On balance, the short EUR/USD position triggered at 1.1708,then scaled up – first at 1.1468 and then again at 1.1242 – will remain in play for now. Adding further to exposure is a bit premature at this time however, with a defined bearish reversal signal and a breakdown that invalidates the series of higher highs and lows traced out over the past week needed for confirmation.

--- Written by Ilya Spivak, Sr. Currency Strategist for

To contact Ilya, use the comments section below or @IlyaSpivakon Twitter


Oil Forecast – US Oil Has Three Days of Stability Against Six Weeks and 30% Of Tumble

British Pound Forecast – Sterling Seeks Further Brexit News

US Dollar Forecast – Dollar Leans Towards Important Bearish Breaks, Will Liquidity Save It?

Equity Forecast – Technical Forecast for Dow, S&P 500, FTSE 100, DAX and Nikkei

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