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
EUR/USD
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
Oil - US Crude
Bullish
Wall Street
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
Gold
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
GBP/USD
Bullish
USD/JPY
Bearish
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
  • Heads Up:🇷🇺 CBR Press Conference due at 12:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-09-18
  • US will ban people from downloading TikTok and We Chat from the 20th of September
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out: https://t.co/td5WA4hCZC https://t.co/7eR2z8LA3V
  • Libya's Haftar says the army has decided to resume output of oil #OOTT
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.24%, while traders in NZD/USD are at opposite extremes with 67.30%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/KhSpML2e1A
  • 🇷🇺 Interest Rate Decision Actual: 4.25% Expected: 4.25% Previous: 4.25% https://www.dailyfx.com/economic-calendar#2020-09-18
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Gold: 0.51% Silver: 0.47% Oil - US Crude: 0.31% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/neu57eYQAY
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.44% 🇯🇵JPY: 0.43% 🇬🇧GBP: 0.15% 🇨🇭CHF: -0.01% 🇪🇺EUR: -0.03% 🇦🇺AUD: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/H9AOMIjOnG
  • Heads Up:🇷🇺 Interest Rate Decision due at 10:30 GMT (15min) Expected: 4.25% Previous: 4.25% https://www.dailyfx.com/economic-calendar#2020-09-18
  • 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/UalZ8cRSXB https://t.co/0sMIVrdslY
Trading Outlook for EUR/USD, USD, Gold Price & More

Trading Outlook for EUR/USD, USD, Gold Price & More

2017-10-27 11:31:00
Paul Robinson, Strategist
Share:

Enjoy the video? Join Paul Tuesday-Friday each week – for details, see the Webinar Calendar.

Finally, we got the breakdown below the ‘neck-line’ the ‘head-and-shoulders’ pattern in EUR/USD we’ve been discussing extensively as of late. It suggests the euro will have a material decline, with a projected target down around 11240. It’s not just the euro that is set to decline, but currencies across the board are already getting hit or poised to take it on the chin versus the dollar. AUD, NZD, CAD (commodity currencies), and CHF have been exhibiting considerable weakness, and with them EUR is joining in and GBP, if support around 13000 doesn’t hold, will likely gain downward momentum of its own. The hold-up is JPY, with USD/JPY trading at a cross-road of resistance from three different angles. But if it can cross above the mid-11400s with conviction it could be off and running.

EUR/USD: Daily

Trading Outlook for EUR/USD, USD, Gold Price & More

We only touched on cross-rates today as most of them aren’t holding very high conviction set-ups. We looked at EURAUD, EURNZD, GBPAUD, GBPNZD, as well as a handful of Yen-crosses. USDMXN is at a big cross-road around current levels by way of an underside retest of a long-term trend-line and horizontal resistance. Looking for it to pull back from here.

USDMXN: Daily

USDMXN daily chart

Check out this guide for tips on Building Confidence in Trading.

With the now surging dollar, gold and silver are under pressure. Gold continues to work towards the confluence of support around 1260. The picture in silver is a little less clear. The DAX and CAC both received big boosts yesterday on the back of a dovish ECB and have broken on through key resistance levels. The S&P 500 is struggling, but it only appears as though right now we will see a minor correction at the most, which may be more about time than lower prices. On Tuesday at 9 GMT time, we’ll delve more into the specifics pertaining to equity indices and commodities.

For full technical considerations, please see the video above…

---Written by Paul Robinson, Market Analyst

You can receive Paul’s analysis directly via email by signing up here.

You can follow Paul on Twitter at @PaulRobinonFX.

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

DISCLOSURES