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.

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
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
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
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
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • US Dollar dropped about 0.5% early Monday as measured by the broad-based DXY Index. Get your $USD market update from @RichDvorakFX here: https://t.co/QIKZInuzm2 https://t.co/NtWDSQeUTR
  • $USD $DXY | US Dollar Mired by Fiscal Stimulus Deadline -via @DailyFX Link to Analysis: https://www.dailyfx.com/forex/market_alert/2020/10/19/usd-price-outlook-us-dollar-mired-by-fiscal-stimulus-deadline.html #FX #Forex #Trading https://t.co/qvLb1N8QJX
  • Combing the headlines today, it feels very much like a 'these are the stocks that will hit record highs should the pandemic and recession return' kind of vibe. Rampant speculation.
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.52% 🇪🇺EUR: 0.46% 🇬🇧GBP: 0.23% 🇨🇦CAD: 0.01% 🇯🇵JPY: -0.03% 🇦🇺AUD: -0.14% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/d7oMzMEfU6
  • Senator McConnell says stimulus to be voted on this Tuesday and Wednesday - BBG
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 0.90% Gold: 0.23% Oil - US Crude: -0.39% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/zaH4DP0nFZ
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.05%, while traders in EUR/USD are at opposite extremes with 69.60%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/b7OFCOlJkt
  • After recovering from March 2020 lows, price action favored the bulls, until reaching a wall of resistance on 1 September at the psychological level of 1.2000. Get your $EURUSD market update from @Tams707 here:https://t.co/PxcRm33ooH https://t.co/S7thoATfKw
  • US Equity Update (Monday Close): $DJI -1.43% $SPX -1.63% $NDX -1.84% $RUT -1.23% $VIX +6.24%
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: US 500: 0.04% Wall Street: 0.03% France 40: -0.50% FTSE 100: -0.58% Germany 30: -0.97% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/N8tSHADd40
EUR/USD Selloff May Continue Below This Key Support- Euro to USD Price Outlook

EUR/USD Selloff May Continue Below This Key Support- Euro to USD Price Outlook

2020-01-13 10:40:00
Mahmoud Alkudsi, Analyst
Share:

EUR/USD Technical Outlook

EUR/USD Technical Outlook

  • EUR price action against USD
  • EUR/USD chart and analysis
EUR Forecast
EUR Forecast
Recommended by Mahmoud Alkudsi
Download our fresh Q1 Euro Forecast
Get My Guide

EUR/USD – Neutral Outlook

On the last day of 2019, rallied EUR/USD to its highest level in nearly five months at 1.1239. However, the price declined after as some buyers took profit. On Friday, the price closed the weekly candlestick in the red with a 0.3% loss.

The Relative Strength Index (RSI) created a high with a lower high meanwhile the price created a high with a higher high with higher signalling a bearish divergence i.e. a possible uptrend reversal. Last week, the oscillator crossed below 50 reflecting the end of uptrend momentum. However, RSI remained flat after highlighting weak sellers and weaker buyers.

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

EUR/USD Daily PRice CHART (July 15, 2018 – Jan 13, 2020) Zoomed Out

EURUSD price daily chart 13-01-20 zoomed out

EUR/USD Daily Price CHART (Aug 25 – Jan 13, 2020) Zoomed in

EURUSD price daily chart 13-01-20 zoomed in

Looking at the daily chart, we notice last week, EUR/USD fell to 1.1085 – its lowest level in two weeks. Currently, the price trades in the same zone 1.1108 – 1.1175 as failed in multiple occasions to move to the lower zone signaling to the market’s indecision at this stage.

Thus, a close below the low end of the zone tips the balance towards the sellers and may encourage them to press towards 1.1059. Further close below this level opens the door for sellers to send EURUSD towards 1.0951. Although, the weekly support levels should be considered as any break to them could trigger stop loss/ take profit orders for some market participants.

On the other hand, a close above 1.1118 reflects seller’s hesitation and could reverse the pair’s direction towards the high end of the zone contingent on clearing the resistance level at 1.1153. Further close above this level could convince more buyers to join the market and push towards 1.1204.

How to Use IG Client Sentiment in Your Trading
How to Use IG Client Sentiment in Your Trading
Recommended by Mahmoud Alkudsi
Improve your trading with IG Client Sentiment Data
Get My Guide

EUR/USD four Hour Price CHART (NOV 29 – Jan 13, 2020)

EURUSD price four hour chart 13-01-20

From the four-hour chart, we notice on Friday EUR/USD rebounded from the uptrend line originated from the Nov 29 low at 1.0981. A violation of this line signals a possible rally towards the high end of the zone discussed on the daily chart.

Thus, a break above 1.1179 could push EURUSD towards 1.1198. Although, the weekly resistance level underlined on the chart should be watched closely. On the other hand, a break below 1.1085 may resume bearish price action towards 1.1063. Yet, the support level underlined on the chart should be kept in focus.

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

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