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
Wall Street
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
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/v6RGICQvge
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here: https://t.co/d8Re5anlG5 https://t.co/rws9LHJV3E
  • RT @FxWestwater: Japanese Yen Forecast: JPY Crosses Eye BoJ, CPI as Haven Flows Bolster Yen Strength Link: https://www.dailyfx.com/forex/fundamental/forecast/weekly/jpy/2021/09/18/Japanese-Yen-Forecast-JPY-Crosses-Eye-BoJ-CPI-as-Haven-Flows-Bolster-Yen-Strength.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https:/…
  • 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/9S5tXIs3SX https://t.co/FVisZuTP6M
  • Stocks appear to be in a corrective phase but could get put to the test; levels and lines to watch in the days ahead. Get your weekly equities forecast from @PaulRobinsonFX here: https://t.co/H1BaTlIHjY https://t.co/zP3mjfslSD
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/Of1thU4zXw
  • Further your forex knowledge and gain insights from our expert analysts on AUD with our free guide, available today: https://t.co/p2FhEwym1E https://t.co/MjiYB85TSF
  • 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/BdgFmkRxVw https://t.co/fIO9TP7D62
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here: https://t.co/lZFM8youtX https://t.co/Xja8DHUqlH
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/9po5Lg4vnR
Technical Outlook for Euro, Cable, Aussie, Sterling-crosses & More

Technical Outlook for Euro, Cable, Aussie, Sterling-crosses & More

Paul Robinson, Strategist

The euro is pulling back a bit here, with trend-line support seen as important for the near-term outlook. Aussie and Kiwi remain targets for sellers. Sterling and related crosses are putting in patterns which could soon get them moving.

Highlights:

  • EUR/USD pulling back to trend-line support off the month-low, needs to hold to keep near-term constructive
  • GBP/USD is up against a long-term trend-line, horizontal resistance, while AUD/USD & NZD/USD remain vulnerable
  • A few GBP-crosses gearing up for price moves; GBP/JPY, EUR/GBP & GBP/AUD in focus

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

EUR/USD is currently trading back below big support around 11876 (2010 low), but has trend-line support not far below running higher off the monthly low. Stay above and the euro remains bullish, fall below and the dynamic shifts towards a deeper decline.

EUR/USD: Daily

Technical Outlook for Euro, Cable, Aussie, Sterling-crosses & More

GBP/USD is pressing up against resistance by way of an important trend-line running down off the 2014 high, in addition to horizontal levels created not long after ‘Brexit’. How it reacts here will be critical for cable’s outlook. A rejection will shift focus back lower, while a push on through could see 13600 or higher challenged.

Check out this guide for ideas on how to Build Confidence in Trading.

GBP/USD: Daily

Technical Outlook for Euro, Cable, Aussie, Sterling-crosses & More

AUD/USD and NZD/USD both remain in firm downtrends. Aussie has the most bearish look as it turns down from resistance around 7640. On further weakness, looking for the trend-line off the January 2016 low. In regards to kiwi, the downtrend sequence is still very much alive, with another possible bear-flag forming on the 4-hr chart.

AUD/USD: Daily

Technical Outlook for Euro, Cable, Aussie, Sterling-crosses & More

We looked at a few different cross-rates, but much of the focus was on a few GBP-crosses. GBP/JPY rejected a breakdown yesterday on ‘Brexit’ headlines, and continues to hold big support. The chart in recent weeks is starting to take on the shape of a symmetrical triangle, or ‘pennant’. It will need a little more time, but could have big implications once it breaks out, especially if in-line with the upward trend prior to its development. In reverse, unsurprisingly, we could see a big move out of EUR/GBP with it also possibly forming its own symmetrical triangle. It’s very near an important trend-line dating back to ‘Brexit’. A break below will likely set into motion downward momentum. GBP/AUD is currently in the process of breaking a trend-line back to July 2016 and above the May high. A confirmed breakout above 17546 then 17800 is seen as opening up a path for potentially much higher prices.

GBP/JPY: Daily

Technical Outlook for Euro, Cable, Aussie, Sterling-crosses & 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