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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View More
Trading Outlook for Euro, AUD/USD, Yen-crosses, Gold & Silver

Trading Outlook for Euro, AUD/USD, Yen-crosses, Gold & Silver

Paul Robinson,

The euro is losing its bullish posturing and at risk of breaking down. AUD/USD looks poised to head lower towards a long-term trend-line. A couple of Yen cross-rates are setting up. Gold is poised to follow the way of silver.


  • EUR/USD is trading below a key trend-line, but still has 11800 for now to lean on
  • AUD/USD is setting up a bear-flag and may be ready to resume lower; AUD/JPY & NZD/JPY too
  • Gold broke a one-year trend-line and is setting up to decline in-line with silver’s recent breakdown

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

EUR/USD is trading below a trend-line off of last month’s low and is dangerously close to taking out 11800, which if it does positions it towards making a move on the low-11700s. That is an important area of support to keep the euro from possibly spilling lower.

EUR/USD: Daily

USD/JPY looks vulnerable here, with the possibility of a ‘head-and-shoulders’ forming; we’ll discuss more later should it come to light. AUD/USD is stuck firmly in a downtrend and yesterday’s rejection at resistance reaffirms its overall weakness. On the 4-hr chart, we looked at a developing bear-flag situation. The under-side trend-line off the 11/20 low will need to be broken, first, but lower prices look headed our way. The same for NZD/USD, but the set-up isn’t as clean at the moment. We are staying away from GBP pairs until clarity presents itself, hopefully once we move past this week’s Brexit talks.

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

AUD/USD: 4-hr

EUR/JPY remains on the radar as it clearly defines support in the 13100s and resistance in the 13400s. Nothing doing as it sits in the middle of the range, but at some point that will change. Stay tuned. AUD/JPY is turning lower from underside trend-line retest and horizontal resistance. Yesterday’s key-reversal helped solidify the area around 8600 as an important threshold. NZD/JPY is turning down off a trend-line starting back in September and in the process also building a bear-flag during the recent correction. A drop below the bottom of the pattern should get this cross-rate rolling downhill.

NZD/JPY: Daily

Gold broke the one-year trend-line yesterday. A decline below 1261 should have the precious metal trading lower, with 1220/05 viewed as potential targets. Silver has declined sharply following a break of the July trend-line and symmetrical triangle, and with gold joining the party we should see further weakness. The 15.50/19 area is seen as the next major area of support. For more details, you can check out this commentary from earlier this morning.

Gold: Daily

For full technical considerations, please see the video above…

---Written by Paul Robinson, Market Analyst

To receive Paul’s analysis directly via email by SIGN UP HERE

You can follow Paul on Twitter at @PaulRobinsonFX

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