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.

Free Trading Guides
EUR/USD
Mixed
GBP/USD
Bullish
USD/JPY
Bearish
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
Gold
Mixed
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • Geopolitical developments send #oil prices soaring or falling. Get your market update from @MartinSEssex here:https://t.co/XVXLyG8vjq #OOTT https://t.co/RMk5Eb5fLU
  • Negative yielding government bonds – What are they telling us? Find out from @nickcawley1 here: https://t.co/F6JuhmrvPT https://t.co/KdpSjQSJ8F
  • #Euro area stocks may be preparing to break the four-month uptrend built around hopes for a US-China trade deal and an orderly #Brexit outcome. Get your market update from @IlyaSpivak here: https://t.co/ujlCJiXLvh https://t.co/INdFtsrTTF
  • What is the top market moving theme for the coming week? I disagree with the majority. '$EURUSD, $GBPUSD and $AUDUSD Top Volatility Candidates With #Fed, #Election, #TradeWar' https://www.dailyfx.com/forex/video/daily_news_report/2019/12/07/EURUSD-GBPUSD-and-AUDUSD-Top-Volatility-Candidates-On-Fed-Election-Trade-War.html?CHID=9&QPID=917719 https://t.co/Q1dbZVN5Us
  • The Australian Dollar was focused on its home country in the past week, but that is likely to change sharply in the days ahead with major global risk events coming up. Get your $AUDUSD market update from @DavidCottleFX here: https://t.co/yZz3hCyVMx https://t.co/1xw1JHwd7l
  • The #Euro broke chart resistance, threatening to challenge the bounds of its longer -term downtrend against the $USD. Bulls may find it premature to celebrate however. Get your market update from @IlyaSpivak here: https://t.co/VfR13llYbW https://t.co/LiWTvIygxc
  • The $USD appears to be stalling against the Singapore Dollar, Malaysian Ringgit, Indonesian Rupiah and Philippine Peso, but technical analysis may still favor USD strength. Get your market update from @ddubrovskyFX here:https://t.co/AZp98MoXKo https://t.co/jgZMUFVGJB
  • The Indian Rupee soared after the Reserve Bank of India surprised with a rate hold. $USDINR may climb as support reinstates the uptrend ahead of Indian CPI and global trade tensions. Get your market update from @ddubrovskyFX here:https://t.co/QEOabsDfMn https://t.co/rqn8Zjrvkv
  • #Gold closed lower after paring early-week gains post-NFP on Friday. But will price finally break support? These are levels that matter on the $XAUUSD weekly chart. Get your $gld technical analysis from @MBForex here: https://t.co/RILBGhLAQZ https://t.co/q5znMUlEQA
  • German Bund Yields Update: 2-Year: -0.639% 3-Year: -0.651% 5-Year: -0.548% 7-Year: -0.480% 10-Year: -0.290% 30-Year: 0.228%
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.