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
Bearish
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
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
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • Traders tend to overcomplicate things when they’re starting out in the forex market. This fact is unfortunate but undeniably true.Simplify your trading strategy with these four indicators here:https://t.co/A4dqGMPylo https://t.co/yZzArpGs2h
  • GBP turbulence persists as investors eye the next round of EU-UK Brexit negotiations. Cautious optimism signals a deal is near. Get your #currencies update from @JMcQueenFX here: https://t.co/WjU4oYpmf7 https://t.co/VcNnCjm0B2
  • 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: https://t.co/JdvW6HNuqV https://t.co/AiLoS7DrEQ
  • 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: https://t.co/3Wked6GBOp https://t.co/HicBmGrokK
  • 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:https://t.co/7kPzAoNoLG https://t.co/5lbyBJeeA7
  • 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: https://t.co/lAFyv1gM0P https://t.co/ubLimoYAcr
  • 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:https://t.co/QQwAZTxZFg https://t.co/4cRhRCiv3C
  • 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:https://t.co/3UIKmbLIvD https://t.co/PY2YyH4vkQ
  • 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:https://t.co/3wsYlSxd26 https://t.co/z2qB9p8IgX
  • 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! https://t.co/kAvpnb0EXO
Technical Outlook for Euro, Sterling, CAD, Yen, Gold & More

Technical Outlook for Euro, Sterling, CAD, Yen, Gold & More

2017-11-24 14:06:00
Paul Robinson, Strategist
Share:

The euro is testing a resistance area at this time, which if broken should lead towards the year high or better. USD/JPY continues to be a big focal point for sellers, and with support breaking looking for lower prices. Gold continues ready itself for a move.

Highlights:

  • EUR/USD testing big resistance, a break into the 11900s sets up for higher prices
  • GBP/USD range-break could soon be upon us, but has resistance to contend with
  • USD/JPY broke support, looks headed for lower prices; USD/CAD too
  • Gold is chopping around, but should resolve itself one way or another soon

Enjoy the video? DailyFX analysts host live events daily, see the Webinar Calendar for details.

EUR/USD is pressing up against the 11876-area, which is the 2010 low and has been a focal point since August. Clearance into the 11900s should set up for a move into the 12000s, with potential for a move to new highs for the year. Big support remains around the 11700s line.

EUR/USD: Daily

Technical Outlook for Euro, Sterling, CAD, Yen, Gold & More

GBP/USD continues to remain range-bound, with it testing resistance around 13300 now. It has technical levels to break through for clearance – the 2014 trend-line and levels post-Brexit. It makes for a tough long at this immediate juncture, but with continued dollar weakness it is set to breakout. The range has been one of the most persistent and is setting up to end soon. USD/JPY is rolling down hill quickly and with it trading in the mid-11100s below big support risk is for it to continue to lower into the 10900s near-term. Bounces towards 11200 should be short-lived with not only price resistance in the area but the 200-day MA aligning around 11170.

Struggling right now? Check out this guide on how to Build Confidence in Trading.

USD/JPY: Daily

Technical Outlook for Euro, Sterling, CAD, Yen, Gold & More

USD/CAD broke the September trend-line we’ve focused on as a trigger for lower prices. With the confirmed close below, now targeting 12590 and the 2012 trend-line near 12500. (You can check out details for this trade idea here.) AUD/USD and NZD/USD look headed for recovery bounces, but still have their work cut out for them to trade higher. For now, staying away from those pairs.

USD/CAD: Daily

Technical Outlook for Euro, Sterling, CAD, Yen, Gold & More

In the cross-rate realm, EUR/JPY continues to be of interest as it continues to hammer down on a support zone in the 13100s. A strong daily close below 13100 opens up a path for it to head towards 12937 and below 12800. AUD/JPY is failing to muster much of a bounce and could soon ready itself for another leg lower, with 8380 in sight as the next support level. We also took a look at EUR/AUD and EUR/NZD.

Gold and silver continue to chop around into what could become even bigger symmetrical triangles than the ones we looked recently. The focus here is on two trend-lines. For gold, it rises up off the December low, and for silver it runs back to July. Stay above they remain constructive, but break below and a continuation-move off the September high becomes the focus.

Gold: Daily

Technical Outlook for Euro, Sterling, CAD, Yen, Gold & More

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