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. See our updated Privacy Policy here.

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
Oil - US Crude
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
Wall Street
Bearish
Gold
Mixed
GBP/USD
Bearish
USD/JPY
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
More View more
Real Time News
  • President Biden: - Endorsed new (NATO) cyber defense policy - Adopted climate security plan (NATO)
  • Bitcoin slightly off its intraday highs, currently trading back below $40,000 #Bitcoin $BTCUSD https://t.co/MYISOU8c9B
  • The US 10Y beginning to retrace some of last week's rally, slowly crawling back towards 1.50% https://t.co/P2a5fHQUlq
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.03% Silver: -0.22% Gold: -0.70% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/XxGZAbPEdL
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 74.73%, while traders in France 40 are at opposite extremes with 78.49%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/7XIu5r1o2l
  • #Euro Forecast: $EURUSD Falters at Yearly Open Resistance- #FOMC Levels - https://t.co/uWukTncIRg https://t.co/dn84mhHxQx
  • The gold monthly opening-range is set just below confluence resistance – breakout to offer guidance. Get your $XAUUSD market update from @MBForex here:https://t.co/19rCMiLlxG https://t.co/uFGK8q14KG
  • WTI Crude Oil Breakout (Update) https://www.dailyfx.com/forex/analyst_picks/todays_picks/james_stanley/2021/06/14/wti-crude-oil-breakout-update.html $oil #oott https://t.co/UGOItnUhgd
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Germany 30: -0.03% France 40: -0.10% US 500: -0.23% FTSE 100: -0.23% Wall Street: -0.71% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/th5Y4GcBcR
  • I don't think this has any easier a path to developing into momentum ahead of the Fed decision as bullish efforts elsewhere, but the $DJI Dow is tentatively breaking lower and the Nasdaq-to-Dow ratio usually showing spec reach is rising: https://t.co/eN8xb6JOhW
EUR Technical Outlook: EUR/USD Trying to Stabilize, Levels & Lines to Watch

EUR Technical Outlook: EUR/USD Trying to Stabilize, Levels & Lines to Watch

Paul Robinson, Strategist

EUR/USD Technical Outlook

  • EUR/USD holding proven support level
  • Pullback may be over, but hurdles yet to cross
Advertisement

EUR Technical Outlook: EUR/USD Trying to Stabilize, Levels & Lines to Watch

The Euro dipped a bit in recent trade, but as of yesterday it found support at a proven level just a tad beneath the 12000 level. This level has been in play as both support and resistance on several occasions for the past two months.

Given we are seeing EUR/USD hold and turn higher we will use 11985 as the floor; stay above on a daily closing basis and the short-term bias is neutral at worst to bullish. A daily close below support will be a warning that further weakness is on its way.

The 200-day, not in confluence with any highly noteworthy price levels will be next up as a possible level of support. But it would be the March 2020 trend-line (<11900) where focus would turn in the event of a breach of above noted support.

First up as resistance is the trend-line off the January high, and really given how close it is to significant resistance a break above the trend-line will only help the bullish case in a moderate manner. Just a bit shy of 12200 lies significant resistance in the form of several short-term swing highs dating to early December. In confluence with this is a slope from February 2020.

There was one attempt in late February to break above horizontal resistance, but EUR/USD violently rejected lower. This proceeded the sharp March decline. A daily close above 12190 should do the trick in getting the Euro to roll higher towards the January high at 12349 or better.

EUR/USD Daily chart

EUR/USD daily chart

EUR/USD Chart by TradingView

Resources for Forex Traders

Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

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

DISCLOSURES