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
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
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
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
Bearish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.49%, while traders in Germany 30 are at opposite extremes with 68.53%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/coX4Ww1pRP
  • 🇷🇺 Interest Rate Decision Actual: 5% Expected: 4.75% Previous: 4.5% https://www.dailyfx.com/economic-calendar#2021-04-23
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.50% Gold: 0.13% Silver: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/DyTN6Z1PLU
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.34% 🇪🇺EUR: 0.34% 🇬🇧GBP: 0.33% 🇨🇦CAD: 0.18% 🇳🇿NZD: 0.15% 🇯🇵JPY: 0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/JKnNu9wyXr
  • Heads Up:🇷🇺 Interest Rate Decision due at 10:30 GMT (15min) Expected: 4.75% Previous: 4.5% https://www.dailyfx.com/economic-calendar#2021-04-23
  • ECB's De Cos - Including transient and mild inflation overshoots in monetary policy strategy is expected to have only a minor impact on inflation expectations - A point plan of exactly 2% would be a reasonable option (current inflation guidance = below, but close to 2%)
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: US 500: 0.20% Wall Street: 0.13% France 40: -0.26% Germany 30: -0.31% FTSE 100: -0.43% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/OEqPvEZrZu
  • 🇬🇧 Markit/CIPS Manufacturing PMI Flash (APR) Actual: 60.7 Expected: 59 Previous: 58.9 https://www.dailyfx.com/economic-calendar#2021-04-23
  • 🇬🇧 Markit/CIPS UK Services PMI Flash (APR) Actual: 60.1 Expected: 59 Previous: 56.3 https://www.dailyfx.com/economic-calendar#2021-04-23
  • 🇬🇧 Markit/CIPS Composite PMI Flash (APR) Actual: 60 Expected: 58.2 Previous: 56.4 https://www.dailyfx.com/economic-calendar#2021-04-23
EUR/USD Chart Signals a Possible Pullback- EUR vs USD Price Forecast

EUR/USD Chart Signals a Possible Pullback- EUR vs USD Price Forecast

Mahmoud Alkudsi, Analyst

Euro vs US Dollar Technical Outlook

  • EUR/USD slows down its rally as Coronavirus fears return
  • EUR vs USD price chart exposes a weaker bullish momentum

EUR/USD- Weaker Buying Pressure

On Friday, EUR/USD rallied to an over eleven-week high at 1.1383 then closed the weekly candlestick in the green with a 1.6% gain.

This week, bulls have eased up amid concerns that a resurgence of the Covid-19 cases in some southern and westerns US states could pause the recovery in economies reopening from lockdowns.

EUR/USD DAILY PRICE CHART (AUG 20, 2018 – June 12, 2020) Zoomed Out

EURUSD Daily price chart 12-06-20 zoomed out
EUR Forecast
EUR Forecast
Recommended by Mahmoud Alkudsi
Download our fresh Q2 Euro Forecast
Get My Guide

EUR/USD DAILY PRICE CHART ( March 27 – June 12, 2020) Zoomed IN

EURUSD Daily price chart 12-06-20 zoomed in

On May 25, EUR/USD carved out a higher low at 1.0870 hinting that the scale was tipping towards bull’s side. Therefore, the market ended its sideways move and rallied above well-defined resistance levels.

On Wednesday, the price printed its highest level in three months at 1.1422 nonetheless, the pair declined to the current trading zone 1.1205 -1.1370 signaling a weaker bullish sentiment.

A close below the low end of the aforementioned trading zone reflects bulls hesitation and could send EURUSD towards 1.1097. Any further close below that level may send the price even lower towards 1.0992.

On the other hand, a close above the high end of the zone signals that bulls could push towards 1.1508. Any further close above that level may extend the rally towards 1.1639.

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 (May 1 – June 12, 2020)

EURUSD Four Hour price chart 12-06-20

Last week, EUR/USD rebounded from 1.1383 then retreated to the current trading zone discussed above on the daily chart and flattened its upward trend indicating that bulls were losing steam. At present, the market trades above the uptrend line originated from the June 4 low at 1.1194 that said, any violation of this line would generate a bearish signal.

A break below 1.1179 could send EURUSD towards 1.1116 on the other hand, any break above 1.1433 could trigger a rally towards 1.1508. Nonetheless, the daily support and resistance marked on the four-hour chart should be monitored.

Written By: Mahmoud Alkudsi, Market Analyst

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