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
Mixed
Oil - US Crude
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
Wall Street
Mixed
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Breaking news

Australia added 114.7k jobs in July, beating 30.0k estimate. Unemployment rate fell to 7.5%, outperforming the 7.8% estimate

Real Time News
  • Why financial market traders must monitor both monetary and fiscal policy? Find out from @MartinSEssex here:https://t.co/Fkzk88Y5gm https://t.co/RD5jfhST15
  • If you missed today's live coverage of the Australian jobs reports where I discussed recent price action and the trajectory of $AUDUSD, $AUDJPY and $AUDNZD, check out the recording on YouTube here - https://t.co/DFtslv9p9J
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Silver: 1.36% Gold: 1.08% Oil - US Crude: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/D73pACW7Wo
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.20% 🇬🇧GBP: 0.19% 🇨🇭CHF: 0.14% 🇦🇺AUD: 0.07% 🇨🇦CAD: 0.04% 🇳🇿NZD: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/iWfve22mC7
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 95.74%, while traders in US 500 are at opposite extremes with 78.31%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/pr60jYN4lU
  • Are we witnessing a positive month for the FTSE as bulls take control? Find out here: https://t.co/j89IW0WMY7 https://t.co/JECJAfuFJW
  • #AUDUSD edged slightly higher after better-than-expected jobs report https://t.co/1sG8q6hGcc
  • 🇦🇺 Full Time Employment Chg (JUL) Actual: 43.5K Previous: -38.1K https://www.dailyfx.com/economic-calendar#2020-08-13
  • 🇦🇺 Employment Change (JUL) Actual: 114.7K Expected: 40K Previous: 210.8K https://www.dailyfx.com/economic-calendar#2020-08-13
  • 🇦🇺 Unemployment Rate (JUL) Actual: 7.5% Expected: 7.8% Previous: 7.4% https://www.dailyfx.com/economic-calendar#2020-08-13
EUR/USD, EUR/JPY Outlook: Price May Change its Current Direction

EUR/USD, EUR/JPY Outlook: Price May Change its Current Direction

2019-09-30 09:38:00
Mahmoud Alkudsi, Analyst
Share:

EUR/USD and EUR/JPY Technical Forecast

See Our latest trading guides for free and discover what is likely to move the markets through Q3 of this year.

EUR/JPY, EUR/USD – Bearish Move Last Week

On Sep 18 , EUR/USD was hammered at resistance then declined to the levels discussed in our last update at 1.0912. The pair closed the weekly candlestick with a 0.7% loss. Similarly, Euro lost value against Japanese Yen last week. However, closed on Friday with only 0.3% loss.

The Relative Strength Index (RSI) failed twice this month to cross above 50 highlighting the downtrend momentum on EUR/USD was still intact. On the other hand, the oscillator dipped below 50 on Sep 19 ending the uptrend move on EUR/JPY.

Having trouble with your trading strategy? Need a hand? Here’s the #1 Mistake That Traders Make

EUR/USD Daily PRice CHART (June 23, 2017 - SEp 30, 2019) Zoomed Out

EURUSD daily price chart 30-09-19.PNG zoomed out

EUR/USD Daily Price CHART (June19 – Sep 30, 2019) Zoomed in

EURUSD daily price chart 30-09-19.PNG zoomed in

Looking at the daily chart we notice, since Sep 20 EUR/USD has been declining towards the low end of current trading zone 1.0912- 1.1050. At the end of the last week, the price rebounded twice nearby the low end of the zone, reflecting seller’s hesitation to keep pressing the price lower.

Thus, the price may be on its way for a test of the high end of the zone, contingent on clearing the daily resistance levels underlined on the chart (zoomed in). Further close above 1.1060 could push EURUSD towards the vicinity of 1.1215-20. Although, the weekly resistance levels should be considered.

Its worth mentioning that on Sep 3, the price created a low then a lower low on Sep 27 meanwhile on RSI we notice a formation of low with a higher low. This indicates to a positive divergence, and a possible reverse in the price’s direction to the upside.

That said, any successful close below the low end of the zone may press EURUSD towards 1.0812. In that scenario, the weekly support levels marked on the chart need to be watched closely.

Just getting started?See our Beginners’ Guide for FX traders

EUR/JPY Daily PRice CHART (Jan 2, 2017– Sep 30, 2019) Zoomed Out

EURJPY price daily chart 30-09-19 Zoomed out

EUR/JPY Daily PRice CHART (June 10 – SEp 30, 2019) Zoomed In

EURJPY price daily chart 30-09-19 Zoomed in

From the daily chart, we notice on Sep 18 EUR/JPY rebounded from the high end of current trading zone 117.30 – 119.78 then declined for a test of the low end of the zone.

Hence, a close below the low end of the zone could send EURJPY towards the vicinity of 114.95-80. Although, the weekly support levels underlined on the chart (zoomed in) should be kept in focus.

Its worth noting that, on Sep 20 EURJPY broke below the uptrend line originated form the Sep 3 low at 115.86. This suggests that the pair could be eyeing a break below the low end of the zone and looking for a test of the vicinity of 116.55-45 as explained on the chart.

On the other hand, any failure in closing below the low end could reverse the pair’s direction, sending the price towards the high end of the zone. Further close above the high end could see EURJPY trading towards 121.25. That said, the weekly resistance levels underscored on the chart would be worth monitoring.

Written By: Mahmoud Alkudsi

Please feel free to contact me on Twitter: @Malkudsi

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

DISCLOSURES

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.