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.



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
Oil - US Crude
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
More View more
Real Time News
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here:
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here:
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here:
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here:
  • It seems the markets are riding high, but risk is always lurking around the corner. Consider your escape plan before you find yourself in collapsing market. What are the top havens for different conditions in 2021? Find out from @JohnKicklighter here:
  • Myth or fact? One thing is for sure, there are a lot of misconceptions about trading. Knowing the difference between common trading myths and the reality is essential to long-term success. Find out about these 'myths' here:
  • What are some monetary policies that could affect Gold this quarter? Get your Gold free forecast here: #DailyFXGuides
  • Even more remarkable than the record high levels of leverage registered in US equities this past week was the attention it garnered. Paying attention to risk is a threat when markets are this high and the docket as dense as it is this week. My outlook:
  • 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:
  • Are you new to trading? Technical analysis of charts aims to identify patterns and market trends by utilising different forms of technical chart types and other chart functions. Get a refresher on technical analysis or begin building your knowledge here:
EUR/USD Price Forecast: Will Euro Fall Further vs US Dollar?

EUR/USD Price Forecast: Will Euro Fall Further vs US Dollar?

Mahmoud Alkudsi, Analyst

EUR/USD Technical Analysis

  • Signals of a possible reversal
  • Levels and thresholds to consider

EUR/USD – Trading Lower

On Friday, Euro lost more value against US Dollar and declined to its lowest level in nearly three years at 1.0637 then rallied after as some bears seemed to cover. Yet, the weekly candlestick closed in the red with 3.6% loss.

The Relative Strength Index (RSI) crossed below 50 then fell to 31 highlighting the bearish outlook of the market.

EUR/USD Daily PRice CHART (NOV 1, 2018 – Mar 23, 2020) Zoomed Out

EURUSD Daily price chart 23-03-20 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 (JAN 20 – MAR 23, 2020) Zoomed in

EURUSD Daily price chart 23-03-20 zoomed in

Looking at the daily chart, we noticed that on Tuesday EUR/USD fell then closed below the 50-day average generating a clear bearish signal. Later on, the pair slipped to the lower trading zone 1.0498 – 1.0822 and failed on Friday to rally to the higher zone.

That said, we spotted a bullish divergence between the price and RSI, as the first created a low and lower low meanwhile the latter created a low with higher low indicating to a possible reversal. Therefore, any failure in closing below the low end of the zone might reverse the pair’s course towards the high end . Further close above that level reflects weaker bearish momentum. This could correct EURUSD higher towards 1.1241. In that scenario, the daily resistance levels marked on the chart should be considered.

In turn, a close below the low end of the zone may encourage bears to press towards 0.9989. Although, a special attention should be paid to the weekly support levels underlined on the chart (zoomed in) as some traders could exit/join the market around these points.

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 (MAR 10 – Mar 23, 2020)

EURUSD Four Hour price chart 23-02-20

From the four-hour chart, we noticed that at the start of last week EUR/USD paused its downtrend move and created a higher high at 1.1236. However, in the following days the market resumed bearish price action then rebounded twice developing a possible double bottom (reversal pattern). Thus, any break above the neckline located at 1.0831 could send the price towards 1.1000 handle.

Thus, a break above 1.0731 could provide bullish signal and cause a rally towards 1.0980. Yet, the daily resistance level underscored on the chart should be watched closely. On the other hand, any break below 1.0622 could mean more bearishness towards 1.0520. Nevertheless, the weekly support level printed on the chart should be kept in focus.

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.