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
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
Oil - US Crude
Mixed
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
Mixed
USD/JPY
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
More View more
Real Time News
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: -0.31% 🇨🇦CAD: -0.43% 🇪🇺EUR: -0.48% 🇳🇿NZD: -1.00% 🇬🇧GBP: -1.03% 🇦🇺AUD: -1.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ST3oKR8Kyt
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.81% Gold: 0.37% Silver: -0.36% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/tCzfLiJU9V
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.35%, while traders in US 500 are at opposite extremes with 67.31%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/gifjQE3Pk8
  • Germany affirmed 'AAA/A-1+', outlook stable by S&P - BBG
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.09% US 500: -0.02% Wall Street: -0.02% France 40: -0.25% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/7j8XbhvJFw
  • Trump: - Energy Secretary should look for other places to store oil - BBG
  • $GBPUSD finds resistance after crossing back below 1.2300 this morning https://t.co/QukmSLfko3
  • My portfolio is now up %600 https://t.co/Tb4Hz3zAyS
  • Canadian Dollar Price Outlook: USD/CAD Coils After Loonie Breakdown https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2020/04/03/Canadian-Dollar-Price-Outlook-USD-CAD-Coils-Loonie-Digests-JS-US-to-Canadian-Dollar-Forecast.html https://t.co/4Yix4ZEXeH
  • President Trump says he is looking at infrastructure package, "will do it soon" Surely a key theme to watch in the week ahead for $SPX
EUR/USD Unfinished Uptrend Move, Euro vs US Dollar Price Forecast

EUR/USD Unfinished Uptrend Move, Euro vs US Dollar Price Forecast

2020-03-11 10:45:00
Mahmoud Alkudsi, Analyst
Share:

EUR/USD Technical Analysis

  • Mind the gaps on EUR vs USD chart
  • Levels and signals to consider

EUR/USD – Bulls in charge

On Friday, Euro rallied against US Dollar to 1.1354 – its highest level in over seven months. The market retreated after, as some bulls seemed to cut back. Yet, the weekly candlestick closed with 2.3% gain.

This week, the Relative Strength Index (RSI) fell 77 to 70 signaling a weaker uptrend move

EUR/USD Daily PRice CHART (JULY 1, 2018 – Mar 11, 2020) Zoomed Out

EURUSD Daily price chart 11-03-20 zoomed out
Building Confidence in Trading
Building Confidence in Trading
Recommended by Mahmoud Alkudsi
Building Confidence in Trading
Get My Guide

EUR/USD Daily Price CHART (Sep 25 – Mar 11, 2020) Zoomed in

EURUSD Daily price chart 11-03-20 zoomed in

Looking at the daily chart, we noticed that last week EUR/USD opened with a gap to the upside (breakaway gap) then closed above the 50-day average providing two bullish signals in that day. On Friday, the price moved to a higher trading zone 1.1240- 1.1412 highlighting the bullish outlook of the market.

This week, the price opened with another upward gap (runaway gap) indicating that uptrend move could be far from finished, as we have not seen any exhaustion gap yet. Yesterday, the market failed to move to a higher trading zone. Thus, the price could be on its way for a test of the low end.

A close below the low end of the zone reflects bull’s reluctance. This could lead some of them to exit the market allowing EURUSD to fall towards 1.1108. Further close below 1.1059 may send the price even lower towards 1.0951. That said, the daily and weekly support levels underlined on the chart (zoomed in) should be considered.

On the other hand, any failure in closing below the low end of the zone could mean bull’s comeback, and might cause a rally towards the high end of the zone. Further close above that level may embolden bulls to push towards 1.1508. Yet, the daily resistance area marked on the chart should be kept in focus.

Traits of Successful Traders
Traits of Successful Traders
Recommended by Mahmoud Alkudsi
Traits of Successful Traders
Get My Guide

EUR/USD four Hour Price CHART (Jan 29 – Mar 11, 2020)

EUR/USD Unfinished Uptrend Move, Euro vs US Dollar Price Forecast

From the four-hour chart, we noticed that in late February EUR/USD started uptrend move creating higher highs with higher lows. On Monday, the price flirted with 1.1500 handle.

A break above 1.1371 could cause a rally towards 1.1412. Although, the daily resistance underscored on the chart should be monitored. On the flip side, any break below 1.1204 could send the price toward 1.1118. Nevertheless, the daily support level printed on the chart should be watched closely.

See the chart to know more about key technical levels in a further bullish/bearish scenario.

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

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.