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
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
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
Wall Street
Mixed
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Bearish
More View more
Real Time News
  • The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It is also referred to as the monthly market mover. Find out why it has been given this nickname here: https://t.co/yOUVEEqhc5 https://t.co/bpKdIqGxsn
  • 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: https://t.co/rfwUWJfbz9 https://t.co/jmcAIW4w5k
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZBx7g https://t.co/M9isuvnzqF
  • The British Pound is giving back some of its multi-month gains with some pairs testing notable support despite a positive fundamental backdrop. Get your market update from @nickcawley1 here: https://t.co/6Ct5R0H41F https://t.co/c4rXmMjMrv
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here: https://t.co/lgDf5cVYOn https://t.co/4dhCP5pnxM
  • Gold is facing the neckline of a Double Bottom Pattern after bouncing off a confirmed longer-term trendline. Is a bullish reversal in order? Get your market update from @FxWestwater here: https://t.co/kLXZewWBMd https://t.co/w1Nu0z569m
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here: https://t.co/8G8mUX4so6 https://t.co/Gn41XsGktg
  • Rollover is the interest paid or earned for holding a currency spot position overnight. Learn how to earn rollover interest on your open positions here: https://t.co/SRsG8CxjEn https://t.co/2AR1qgx0tz
  • The New Zealand Dollar is in a tricky spot. On one hand, rising stocks can propel NZD. On the other, a dovish RBNZ ahead could cool bond yields as the government tackles soaring housing costs. Get your market update from @ddubrovskyFX here: https://t.co/5rjm2gr3EL https://t.co/aLwhWHMPqz
  • 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: https://t.co/QszmdZFxlk https://t.co/obH0RFLKhC
EUR/USD Technical Analysis: 2018 Falling Trend Line Holds, Now What?

EUR/USD Technical Analysis: 2018 Falling Trend Line Holds, Now What?

Daniel Dubrovsky, Strategist

Euro, EUR/USD – Talking Points

  • Euro has been cautiously appreciating vs major peers
  • EUR/USD recent gains stall at 2018 falling trend line
  • Is this the turning point for the most-liquid FX pair?

Euro Technical Analysis

Against a basket of its major counterparts, the Euro has been making cautious upside progress since early May. On the chart below is my majors-based Euro index, which averages the single currency against USD, JPY, GBP and AUD. Guiding EUR higher could be a potential rising trend line from the middle of February. A third test of the support line may confirm it.

Top Trading Lessons
Top Trading Lessons
Recommended by Daniel Dubrovsky
Top Trading Lessons
Get My Guide

Moreover, key support sits immediately below between 1.5043 – 1.5099. Here more buyers could enter the market and cap downside progress following the emergence of negative RSI divergence. The latter shows fading upside momentum which can at times precede a turn lower. Taking out 1.5344 could open the door for the Euro to prolong its recent advance against its major peers.

Majors-Based Euro Index – Daily Chart

EUR/USD Technical Analysis: 2018 Falling Trend Line Holds, Now What?

Chart Created in TradingView

*Majors-Based EUR Index Averages Euro Versus USD, JPY, GBP and AUD

EUR/USD Technical Outlook

This is as EUR/USD just rejected a test of falling resistance from 2018 on the daily chart below. This left behand a range of resistance between 1.1384 – 1.1336. The trend line and the latter barrier are what stand in-between where prices are and March peaks (1.1446 – 1.1496). EUR/USD is also appearing to stall as rising support from late May is at risk to being broken.

If the latter falls apart, that could send the pair towards the 1.1213 – 1.1239 inflection point. Should the Euro descend through the latter, that may catalyze a deeper selloff that could lead to a reversal of the aggressive gains since last month. That may then open the door to testing 1.1147 followed by the 1.0981 – 1.1003 inflection area on the way towards 1.0871.

EUR/USD Bullish
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily -2% -2% -2%
Weekly -28% 27% -3%
What does it mean for price action?
Get My Guide

EUR/USD - Daily Chart

EUR/USD Technical Analysis: 2018 Falling Trend Line Holds, Now What?

Chart Created in TradingView

--- Written by Daniel Dubrovsky, Currency Analyst for DailyFX.com

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter

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

DISCLOSURES