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.



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
Oil - US Crude
Wall Street
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
  • An economic calendar is a resource that allows traders to learn about important economic information scheduled to be released. Stay up to date on the most important global economic data here:
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • There is a great debate about which type of analysis is better for a trader. Is it better to be a fundamental trader or a technical trader? Find out here:
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here:
  • What is the outlook for financial markets ahead of the first presidential debate and how are Democratic nominee Joe Biden and President Donald Trump doing in the polls? Find out from @ZabelinDimitri here:
  • The US Dollar could gain as it forms bullish technical formations against the Singapore Dollar and Malaysian Ringgit. USD/PHP may have bottomed, will USD/IDR rise next? Find out from @ddubrovskyFX here:
  • The Indian Rupee may be at risk to the US Dollar as USD/INR attempts to refocus to the upside. This is as the Nifty 50, India’s benchmark stock index, could fall further. Get your $USDINR market update from @ddubrovskyFX here:
  • A proxy of #EmergingMarket capital flows hit its lowest since July, falling with the #SP500 after some divergence This is as #USD gained against its developing FX counterparts, highlighting potential risk of a spillover outwards Stay tuned for next week's #ASEAN fundy outlook!
  • 4 consecutive down weeks for the #SP500, last matched over a year ago #Fed balance sheet continues to gain very cautiously, now at its highest since the middle of June. Still, at slower pace than last week Focus shifts to US fiscal stimulus next week in the House of Reps
  • #Gold prices have broken lower and while the broader technical structure is constructive, the risk remains for a deeper correction before resumption. Get your $XAUUSD technical analysis from @MBForex here:
EUR/USD Price Forecast: Levels to Consider Ahead of the EU Summit

EUR/USD Price Forecast: Levels to Consider Ahead of the EU Summit

2020-07-17 09:30:00
Mahmoud Alkudsi, Analyst

Euro vs US Dollar Technical Outlook

  • The market rallied on the back of the US dollar weakness and Euro's strength
  • EUR vs USD price- bullish momentum remained intact

EUR/USD Price Printed a Multi-Month High

Last week, EUR/USD hit a four-week high of 1.1370 and retreated after as some bulls seemed to cut back. Ultimately, the market closed the weekly candlestick modestly in the green with a 0.4% gain. Alongside that, the Relative Strength Index (RSI) remained flat around 60 and reflected a slowing bullish momentum.

On Wednesday, the pair rallied to an over four-month high of 1.1452 on the back of positive news of Coronavirus vaccine trials, combined with hopes of achieving a recovery fund deal in the EU summit taking place today and tomorrow in Brussels.

EUR/USD DAILY PRICE CHART (AUG 1, 2018 – JuLy 17, 2020) Zoomed Out

EURUSD Daily price chart 17-07-20 zoomed out
EUR Forecast
EUR Forecast
Recommended by Mahmoud Alkudsi
Download our fresh Q3 Euro Forecast
Get My Guide

EUR/USD DAILY PRICE CHART (May 21 – JuLY 17, 2020) Zoomed IN

EURUSD Daily price chart 17-07-20 zoomed in

In late June, EUR/USD has failed on multiple occasions to break through the lower trading zone, repeatedly rebuffing efforts to put bears back in charge. As we see the chart highlights a bull flag therefore, the pair’s outlook remains positive while moving in the current trading zone 1.1508 – 1.1370.

A close below the low end of the current zone changes the outlook from positive to neutral, and may ultimately guide EURUSD’s fall towards 1.1205- around its lowest monthly level.

A further close below that could encourage bears to revisit 1.1097- the following monthly support.

On the flip side, the daily chart shows that the market rebounded from the low end of the current zone. Another close above the low end may open up a push behind EURUSD towards the high end of the zone.

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 29 – JuLY 17, 2020)

EURUSD Four Hour price chart 17-07-20

On July 14, EUR/USD traded above the downward sloping trendline resistance originating with the June 10 high at 1.1422, indicating a shift in favor of the bull’s control.

That said, any break below the bullish trend line originating from the July 14 low at 1.1325 would keep bearish potential alive.

To conclude, a break above the July 15 high at 1.1452 may cause a rally towards the high end of the current trading zone discussed above on the daily chart, while a break below 1.1358 could send EURUSD towards 1.1302. As such, the weekly support and resistance levels marked on the four-hour chart should be kept in focus.

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.