Skip to Content
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
More View More
EUR/USD Technical Outlook: Pressing Hard on Big Support

EUR/USD Technical Outlook: Pressing Hard on Big Support

Paul Robinson, Strategist

EUR/USD Technical Highlights:

  • EUR/USD putting pressure on major support
  • Support break could lead to meaningful decline

The EUR/USD continues to put pressure on the neckline of a large head-and-shoulders pattern. With how the dollar is trading it looks like just a matter of time now before we see support break. It could lead to a sizable move lower in the event it does.

Keep an eye on the wedge forming on the 4-hr chart, it could lead to a snap higher following a ‘fake-break’. Seen as a low probability event, but could lead to a strong move higher if it does.

For the full details, check out the video above.

EUR Forecast
EUR Forecast
Recommended by Paul Robinson
Check out the Q3EUR Forecast
Get My Guide

EUR/USD Daily Chart (pressuring support)

eur/usd daily chart

EUR/USD 4-hr Chart (wedge on support)

eur/usd 4hr chart

EUR/USD Charts 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