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
  • Stocks appear to be in a corrective phase but could get put to the test; levels and lines to watch in the days ahead. Get your weekly equities forecast from @PaulRobinsonFX here:
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here:
  • Further your forex knowledge and gain insights from our expert analysts on AUD with our free guide, available today:
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here:
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here:
  • The Japanese Yen is eyeing the upcoming Bank of Japan rate decision and CPI figures, but JPY crosses will likely remain dependent on broader market sentiment. Get your weekly $JPY forecast from @FxWestwater here:
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here:
  • Crude and Brent oil are on track to extend higher as Gulf Coast supply disruptions and a positive OPEC report bolster sentiment. Uranium is on a massive surge, aided by the famous Wall Street Bets group. Get your market update from @FxWestwater here:
  • RT @michaeljburry: Read thread.
Euro Weekly Technical Outlook: EUR/USD Channel Structure in Focus

Euro Weekly Technical Outlook: EUR/USD Channel Structure in Focus

Paul Robinson, Strategist

EUR/USD Technical Outlook – NEUTRAL

  • EUR/USD channeling higher but momentum is weak
  • Continued strength could have big roadblock in play
  • A correction will put the trend to a test

EUR/USD trend higher but tepid

The Euro continues to rally against the Dollar, but over the past month it has lost considerable momentum. This doesn’t mean the EUR/USD rally is on its way to ending, but if it continues to act sluggish it might not take much to snap the upward channel structure.

As it currently sits at the bottom of the channel, which acts as support, we will want to see if it can hold and turn back higher as it has on each little dip in recent weeks. If it can, then look for it to rally to a new cycle high above 12349.

The potential here, still, is that we see the 2018 highs in the mid 124/125s reached. If the EUR/USD can reach that point we will see what it is really made of, as it will be a substantial area to climb through.

On the flip-side, should support break then we could see a decline ensue that takes price back to a trend-line running higher since May. The line may intersect as confluence with the September 1 high at 12011. This would be another point in time, as we would get a chance to see what the trend is made of as a correction is either met or not met by buyers.

All-in-all, sticking with the multi-week channel as a guide for now. If price stays above the lower parallel then the trend remains neutral to upward, fall below and things could turn negative for the single currency.

EUR/USD Daily Chart (channeling towards 2018 highs)

Euro Weekly Technical Outlook: EUR/USD Channel Structure in Focus

EUR/USD 4-hr Chart (channel structure in play near-term)

Please add a description for the image.

EUR/USD Charts by TradingView

Resources for Forex Traders

Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at@PaulRobinsonFX

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