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.

0

Notifications

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

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bullish
Low
High
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
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Mixed
GBP/USD
Mixed
Low
High
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
USD/JPY
Bullish
Low
High
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 US Dollar weakened against #ASEAN currencies like the Singapore Dollar, Malaysian Ringgit, Indonesian Rupiah, and Philippine Peso. Ahead, Chinese GDP and US retail sales are eyed. Get your market update from @ddubrovskyFX here: https://t.co/fy366LmjDK https://t.co/5zlbWKGSHG
  • $USDJPY Daily Pivot Points: S3: 106.06 S2: 106.47 S1: 106.69 R1: 107.1 R2: 107.27 R3: 107.68 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • #Dollar vs Mexican #Peso Price Outlook: $USDMXN Breakout Brewing - https://t.co/UpZgUYj51r https://t.co/p6Xs8ob6Yo
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.38% 🇨🇭CHF: -0.06% 🇨🇦CAD: -0.09% 🇯🇵JPY: -0.34% 🇳🇿NZD: -0.48% 🇬🇧GBP: -0.53% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/kJifCyjzCk
  • In case you missed it, here is my webinar outlining geopolitical risks impacting markets in the week ahead⬇️ https://t.co/pkDAt1UyQS Themes + Assets: - 🇭🇰Hong Kong (#HSI) - 🇺🇸🇨🇳US-China Trade Tension (#AUD) - 🛢️OPEC+ Meeting (#OIL) - 🇪🇺EU Division Over Aid Package (#EUR)
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 1.71% Gold: 0.25% Oil - US Crude: -1.25% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/395bwbI9dy
  • As U.S. equity markets stutter against overhead resistance, #gold prices break above $1,800 as treasury yields deflate. Get your market update from @FxWestwater here: https://t.co/g4W9xdEXZn https://t.co/E2pML4qVuh
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.72%, while traders in US 500 are at opposite extremes with 77.03%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ImfSdPkZiP
  • Stocks recorded a gnarly intraday reversal to the downside after failing to take out aforementioned resistance. Eyeing the 3,120-price zone for possible support, which is highlighted by last week's low and 61.8% Fib of the prior month's trading range. https://t.co/5XcFSooO28
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.01% US 500: -0.01% FTSE 100: -1.42% France 40: -1.68% Germany 30: -1.94% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/aeuJHfkoHb
Euro Technical Forecast: EUR/USD, EUR/JPY, EUR/GBP, EUR/AUD

Euro Technical Forecast: EUR/USD, EUR/JPY, EUR/GBP, EUR/AUD

2019-11-16 04:00:00
Daniel Dubrovsky, Analyst
Share:

Euro Technical Forecast Talking Points

  • Euro made cautious upside progress against its counterparts this past week
  • EUR/USD shows most potential for follow-through, EUR/JPY eyes Sep. line
  • EUR/GBP falling towards current 2019 lows, EUR/AUD stalls at resistance

Trade all the major global economic data live as it populates in the economic calendar and follow the live coverage for key events listed in theDailyFX Webinars. We’d love to have you along.

EUR/USD Chart Outlook

The Euro pulled off a cautious recovery against the US Dollar towards the end of last week, potentially setting itself up for a near-term reversal. EUR/USD has left behind a Morning Star which is a bullish candlestick pattern that has also seen upside confirmation. But, the dominant downtrend may be kept intact by a combination of the October highs (1.1164 – 1.1182) and a potential falling trend line from June. Resuming the downtrend entails a close under 1.0989.

For timely updates on the Euro technical outlook, follow me on Twitter here @ddubrovskyFX

EUR/USD Daily Chart

Daily EURUSD Price Chart

EUR/JPYChart Outlook

Against the Japanese Yen, the Euro climbed on Friday as EUR/JPY left behind near-term support at 119.25. The dominant downtrend may be kept intact by a descending channel of resistance going back to September 2018. If this psychological barrier holds and resumes selling pressure, the pair may find itself struggling to close under what could be a potential rising support line from September. This could then translate into consolidation. Downside momentum may be the case ahead given the bearish outlook in trader positioning.

Join me every week on Wednesday’s at 01:00 GMT to learn how to use market positioning as another tool in your trading strategy!

EUR/JPY Daily Chart

Daily EURJPY Price Chart

EUR/GBPChart Outlook

The British Pound continues to make slow progress against the Euro since the EUR/GBP downtrend ensued back in August. Prices are approaching the key psychological barrier established earlier this year as a range between 0.8472 and 0.8530. Positive RSI divergence does however show fading downside momentum. At times, this can translate into an upside push towards key resistance at 0.8656. Beyond that lays a potential falling trend line from August that may keep the dominant downtrend intact.

EUR/GBP Daily Chart

Daily EURGBP Price Chart

EUR/AUDChart Outlook

Gains in the Euro, including against the Australian Dollar, has brought EUR/AUD into a falling channel of resistance from August. Prices may struggle pushing above this psychological barrier as the dominant downtrend resumes. That may push prices lower towards September lows which makes for a key psychological barrier between 1.5976 and 1.6013. Otherwise, a daily close above 1.6265 could pave the way for a climb towards October highs.

EUR/AUD Daily Chart

Daily EURAUD Price Chart

All Euro Charts Created in TradingView

FX Trading Resources

--- Written by Daniel Dubrovsky, Currency Analyst for DailyFX.com

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.

DISCLOSURES

News & Analysis at your fingertips.