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EUR/USD Technical Analysis: Short and Long-term Outlook Bearish

EUR/USD Technical Analysis: Short and Long-term Outlook Bearish

Paul Robinson, Strategist

EUR/USD Technical Highlights:

  • EUR/USD ready to break down soon
  • Has a lot of room to go before long-term low
EUR Forecast
EUR Forecast
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Check out the Q3 EUR Forecast
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Today I looked at the short and long-term charts of the EUR/USD, and in both regards the outlook is bearish. With the longer-term trend the dominating theme the preference is to identify short set-ups within that context.

The recent sideways chop looks like it may end soon with a break below 9899. A break beneath support has the euro set up to keep on heading lower in the near-term. Looking at the longer-term chart the EUR/USD appears to be on course to reach is the 2000 low at 8231 at some point.

Watch the video above for the full set of details.

EUR/USD Daily Chart

eur/usd daily chart

EUR/USD Weekly Chart

eur/usd weekly chart

EUR/USD Charts by TradingView

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---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.

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