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
EUR/USD
Bullish
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
Bullish
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
Bullish
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
  • $USD hegemony is at risk thanks to changes in the global economy and the long-term consequences of the US-China trade war. Get your market update from @CVecchioFX here:https://t.co/5GO9UrvO4y https://t.co/OTTEmg76W8
  • The immediate focus is on a break of this multi-week consolidation formation in the Australian Dollar with the broader rally vulnerable while below 7042. Get your AUD technical analysis here: https://t.co/iEYos1ioBc https://t.co/kuzB3Eqps0
  • #Gold prices have rallied to nine-year highs with the breakout testing multi-year uptrend resistance into the open of Q3. Can the rally be sustained? Download our latest Gold trading guide!: https://t.co/3KO2QWOnOt https://t.co/YIIGZdeIAJ
  • Why financial market traders must monitor both monetary and fiscal policy? Find out from @MartinSEssex here:https://t.co/Fkzk88Y5gm https://t.co/zerRXZC1Tq
  • Get your snapshot update of the of relative currency strength and exchange status from around the globe here: https://t.co/DmhBkd4B0k https://t.co/uj93z2SHpH
  • The Australian Dollar’s surge from the March lows may be coming to an end as bearish patterns begin to line up on multiple time-frames. Check out our #AUD trading guide to learn more here: https://t.co/pjfm07tqFd https://t.co/VypHLra1ER
  • The Evening Star candlestick is a three-candle pattern that signals a reversal in the market and is commonly used to trade forex. Learn more about the evening star candlestick pattern here: https://t.co/8OTE7m01IG https://t.co/Vumcng7UB3
  • After a miraculous recovery in Q2, equity markets will be left juggling the Fed’s policy and the threat of a second covid wave, all in an election year. Evidently, traders will have their hands full in Q3. Read our equity forecast here: https://t.co/JARqbOKIeM https://t.co/Ms6zEucjqg
  • Hey traders! I'm sure you've all heard about trend trading. Sharpen your knowledge here: https://t.co/jkliL5sxj7 https://t.co/uvlv1MCAHI
  • $GBPUSD posts impressive Q2 recovery, however, what upside challenges lie ahead in Q3? Download our #GBP trading guide to find out: https://t.co/ZE0yjc6wdQ https://t.co/bFa90VJYor
Euro Technical Outlook: EUR/USD Price Under Pressure, Eyes Support

Euro Technical Outlook: EUR/USD Price Under Pressure, Eyes Support

2020-06-25 17:00:00
Rich Dvorak, Analyst
Share:

EUR/USD PRICE OUTLOOK: EURO SLIDES AGAINST US DOLLAR AS RISK APPETITE SIMMERS

  • EUR/USD price action gives back gains notched earlier this week in a potential bearish reversal
  • Spot EUR/USD is currently trading slightly above technical support near the 1.2200-price level
  • EUR/USD bears could strongarm the Euro lower against its anti-risk US Dollar peer

EUR/USD prices have slid sharply over the last two trading sessions and reversed more than half of the 140-pip gain to start the week. Spot EUR/USD selling pressure has recently succumbed to fading risk appetite amid the return of coronavirus fears and rising US-EU trade tension.

EUR/USD BULLISH
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily -2% 10% 5%
Weekly -2% 7% 4%
What does it mean for price action?
Get My Guide

EUR/USD PRICE CHART: DAILY TIME FRAME (18 FEB TO 25 JUN 2020)

Euro Price Chart EURUSD Forecast

EUR/USD downside since Wednesday has pushed spot prices back below the negatively-sloped 8-day exponential moving average. This suggests Euro bears have regained control over the major currency pair’s short-term direction.

EUR/USD price action now eyes a key technical support level around the 1.1200-handle. This zone of confluence is highlighted by the 34-day exponential moving average as well as the 61.8% Fibonacci retracement of March’s violent trading range.

Forex for Beginners
Forex for Beginners
Recommended by Rich Dvorak
Forex for Beginners
Get My Guide

These technical barriers might bolster spot EUR/USD if the latest influx of currency volatility wanes and market sentiment improves. Conversely, risk aversion could gain traction and send EUR/USD prices toward the 1.1000-level if the Euro falters against its safe-haven US Dollar counterpart and experiences a breakdown beneath current month-to-date lows.

-- Written by Rich Dvorak, Analyst for DailyFX.com

Connect with @RichDvorakFX on Twitter for real-time market insight

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

DISCLOSURES

News & Analysis at your fingertips.