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
Bearish
Wall Street
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
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • The US have switched off telephone lines to Russia's NY consulate - RIA $RUB
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.90% Silver: 0.75% Gold: 0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/95TqbyVQKI
  • Heads Up:🇺🇸 Treasury Secretary Yellen Senate Confirmation Hearing due at 15:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-01-19
  • $EURCAD is trading above 1.5450 for the first time since last Wednesday as the pair attempts to recover from last week's two-month lows. $EUR $CAD https://t.co/7BHI8swUC0
  • $EURUSD is currently hitting fresh intraday highs as the pair recovers from the monthly lows set yesterday near 1.2050. $EUR $USD https://t.co/QnXajqKMhc
  • Germany agrees on extension of lockdown until Feb. 14th - Spiegel. $EUR
  • The International Energy Agency has cut its forecasts of oil demand by 600,000 barrels per day for the first quarter of 2021 and by 300,000 for this year as a whole. Get your #crdueoil market update from @MartinSEssex here:https://t.co/hl0IHrAfqQ https://t.co/3dt23I4F3t
  • $NZDUSD fell to its lowest level of the new year yesterday, trading right around 0.7100. The pair has rebounded slightly from this low today and is currently trading near 0.7130. $NZD $USD https://t.co/lX367MqvWE
  • $EURJPY strength this morning has seen the pair rise to trade back around its December levels, recovering from the monthly lows below 125.50 set yesterday and late last week. $EUR $JPY https://t.co/S7iDCkoNtz
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/9S5tXIs3SX https://t.co/JOeQMU4a3P
EUR/USD Forecast: Euro vs USD Price Tests Critical Chart Levels

EUR/USD Forecast: Euro vs USD Price Tests Critical Chart Levels

Mahmoud Alkudsi, Analyst

Euro vs US Dollar Technical Outlook

  • U.S. dollar benefits from a weaker risk-on sentiment
  • EUR vs USD price chart exposes a continuation pattern

EUR/USD- Bulls Ease Up

On Friday, EUR/USD declined to an over two-week low at 1.1168 then closed the weekly candlestick in the red with a 0.7% loss highlighting the weakness of bulls.

The recent surging coronavirus cases in the US and elsewhere combined with the latest IMF expectations of a deeper global recession led investors this week to favor the world reserve currency and avoid riskier currencies.

EUR/USD DAILY PRICE CHART (AUG 1, 2018 – June 26, 2020) Zoomed Out

EURUSD Daily price chart 26-06-20 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 (May 8– June 26, 2020) Zoomed IN

EURUSD Daily price chart 26-06-20 zoomed in

On June 10, EUR/USD made a three-month high at 1.1422 then paused its upward trend and traded in bull flag therefore, any break above the higher line of the downside channel would be considered a bullish signal.

At the start of this week, the pair climbed back to the current trading zone 1.1205 – 1.1370 indicating that bulls were not done yet. Nonetheless, bulls showed a weak sign as the price failed to test the high end of the zone.

A close below the low end of the zone reflects the bull’s hesitation and this could send EURUSD towards 1.1097. Any further close below that level may encourage bears to press towards 1.0992.

On the flip side, another failure in closing below the low-end signals that bulls could reattempt testing the high end of the zone, and any further close above that level may extend the rally towards 1.1508.

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 14 – June 26, 2020)

EURUSD Four Hour price chart 26-06-20

On Monday, EUR/USD broke above the lower downtrend line originated from the June 10 high at 1.1422, and generated a bullish signal. On Wednesday, the price reversed lower yet rebounded yesterday from the uptrend line originated from the May 14 low at 1.0774. Therefore, any violation of this line would generate a bearish signal while any break above the higher downtrend line originated from the aforementioned June 10 high would generate a bullish signal.

To conclude, a break below 1.1168 could send EURUSD towards 1.1107 while, a break above 1.1388 could trigger a rally towards 1.1464. With that said, the daily support and resistance marked on the four-hour chart should be considered.

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, 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