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
More View more
Real Time News
  • 🇨🇭 Balance of Trade (SEP) Actual: CHF4.4B Previous: CHF4.5B
  • Heads Up:🇨🇭 Balance of Trade (SEP) due at 06:00 GMT (15min) Previous: CHF4.5B
  • Heads Up:🇨🇳 FDI (YTD) YoY (SEP) due at 06:00 GMT (15min) Previous: 22.3%
  • 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:
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.84%, while traders in GBP/JPY are at opposite extremes with 76.20%. See the summary chart below and full details and charts on DailyFX:
  • Becoming a forex trader means living and breathing the excitement, risk and reward of trading in the biggest and most liquid market in the world. Do you have what it takes? Read here to discover the qualities and processes it takes to build consistency:
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.58% 🇦🇺AUD: 0.56% 🇪🇺EUR: 0.35% 🇨🇦CAD: 0.29% 🇬🇧GBP: 0.29% 🇯🇵JPY: 0.18% View the performance of all markets via
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: France 40: 0.15% Germany 30: 0.13% FTSE 100: 0.09% US 500: 0.01% Wall Street: -0.04% View the performance of all markets via
  • Further your forex knowledge and gain insights from our expert analysts @ddubrovskyFX and @FxWestwater on JPY with our free Q4 market analysis guide, available for free today.
  • The Fed 2022 rate forecast is at nosebleed levels, but the Dollar still isn't following along. Will it be drug lower if the outlook sours? And what will happen to the S&P 500 as it closes back in on its record high?
EUR/USD Technical Analysis: Euro Turn Brewing at 3-Month High?

EUR/USD Technical Analysis: Euro Turn Brewing at 3-Month High?

Ilya Spivak, Head Strategist, APAC


  • Euro at 3-month highs after sharp seven-day climb vs US Dollar
  • Near-term chart positioning warns that a top might be forming
  • Sentiment studies may be nearing a bullish positioning extreme

A spirited Euro recovery brought the currency through range resistance and extended to the highest level since mid-March, scoring an impressive seven-day winning streak along the way. Prices are now perched ahead of inflection point resistance at 1.1239. Breaking above this barrier on a daily closing basis seems to set the stage for a run at the 2020 swing top at 1.1496.

Euro vs US Dollar price chart - daily

EUR/USD daily chart created with TradingView

Alternatively, a move below resistance-turned-support at 1.1147 probably opens the door for a pullback to retest the recently broken range top near the 1.10 figure. In fact, zooming in to the four-hour chart suggests this may well be the way forward. The appearance of a bearish Evening Star candlestick pattern coupled with negative RSI divergence hints that a top may be taking shape.

Confirmation of bearish reversal requires a breach of rising trend line support guiding the past week’s climb and defining the near-term upward bias. Managing to do so is likely to put prices in close-enough proximity to support at 1.1147 to demand a further breach of this barrier to make for a short trade setup with acceptable risk/reward parameters.

Euro vs US Dollar price chart - 4 hour

EUR/USD 4-hour chart created with TradingView


Trader sentiment data warns would-be sellers against over-extrapolating the case for weakness just yet however. IG Client Sentiment (IGCS) statistics suggest that 65.31% of market participants are net-short EUR/USD, with the short-to-long ratio at 1.88 to 1. This is typically used as a contrarian indicator, implying thatthe tilt in tradersexposure points to an bullish trend bias.

In fact, traders are more net-short now than they were previously, with the skew 0.97 percent deeper compared with yesterday and 12.58 percent greater than a week ago. That may speak to strengthening upside pressure. However, positioning has been stretched to levels where bullish sentiment extremes have repeatedly occurred over the past year, so capitulation may well be on the horizon.

Euro vs US Dollar price chart, trader sentiment

See the full IGCS sentiment report here.


--- Written by Ilya Spivak, Head APAC Strategist for DailyFX

To contact Ilya, use the comments section below or @IlyaSpivak on Twitter

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