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
Real Time News
  • AUD/USD is little changed from the start of the week following the limited reaction to the Reserve Bank of Australia (RBA) Minutes. Get your $AUDUSD market update from @DavidJSong here:
  • China's Anqing City of Anhui province says the property firm linked to Evergrande failed to make payment for land site
  • The updated dot plot will be a major focus for today’s FOMC announcement — perhaps even more so than taper timeline language. This is because Fed Chair Powell’s speech at Jackson Hole emphasized the decoupling of balance sheet normalization from future rate liftoff. $USD $DXY
  • UK energy supplier collapses now affect about 1.5mln households
  • It's #FOMC day and the markets are clearly tuned in. How will markets trade around the policy update? DailyFX's @JohnKicklighter discusses below!
  • 🇺🇸 Existing Home Sales MoM (AUG) Actual: -2% Previous: 2.2%
  • 💶 Consumer Confidence Flash (SEP) Actual: -4 Expected: -5.8 Previous: -5.3
  • Heads Up:🇺🇸 Existing Home Sales MoM (AUG) due at 14:00 GMT (15min) Previous: 2%
  • Heads Up:💶 Consumer Confidence Flash (SEP) due at 14:00 GMT (15min) Expected: -5.8 Previous: -5.3
  • LIVE NOW: Join Technical Strategist @MBForex for his Mid-Week Market Update to review the setups we're tracking into the #Fed!
USD, EURUSD, GBPUSD & More – Charts for Next Week

USD, EURUSD, GBPUSD & More – Charts for Next Week

Paul Robinson, Strategist

It was a relatively volatile week with several headlines to keep everyone on their feet (namely FOMC/Trump, Trade War). The Dollar hit an extreme and reversed course Wednesday/Thursday, which increases the likelihood of a decline. The Euro hit support and looks poised try and recover, GBPUSD looks similarly.

Technical Highlights:

  • DXY breakout looking vulnerable to selling
  • EURUSD hits underside t-line, poised to recover
  • GBPUSD oversold at long-term support zone

See where our team of analysts see your favorite markets and currencies headed in the in the DailyFX Trading Forecasts.

DXY breakout looking vulnerable to selling

The US Dollar Index (DXY) broke out on Fed day, but that is quickly coming under fire and soon the area around 98 may break. On a breakdown the initial target will be the trend-line coming up off the June low near 97.60.

DXY Daily Chart (breakout at risk of failing)

USD, EURUSD, GBPUSD & More – Charts for Next Week

U.S. Dollar Currency Index (DXY)

EURUSD hits underside t-line, poised to recover

The Euro is the main driver behind the DXY at a hefty 57% of the index weighting, so naturally a bearish DXY outlook will coincide with a bullish EURUSD outlook. Yesterday, price put in a reversal at a long-term underside trend-line, which has the good. The bad is that lows from April and May are acting as resistance. Tough spot for traders. But, the bigger picture support looks poised to win out and on that a smallish rally to ensue.

EURUSD Weekly Chart (coming off support line)

USD, EURUSD, GBPUSD & More – Charts for Next Week

EURUSD Chart by Tradingview

EURUSD Daily Chart (caught under prior lows)

USD, EURUSD, GBPUSD & More – Charts for Next Week

EURUSD Chart by Tradingview

GBPUSD oversold at long-term support zone

Lots of support down here, but the zone is fairly sizable. It extends from current levels down to just above the 11900-mark. Price action is still weak but that could quickly change. With Cable having fallen down to this point so sharply it is oversold, and on that price support coupled with bullish price action creates an appealing case for a recovery to develop.

GBPUSD Daily Chart (Big support at its feet)

USD, EURUSD, GBPUSD & More – Charts for Next Week

GBPUSD Chart by Tradingview

Resources for Forex & CFD Traders

Whether you are a new or an experienced trader, DailyFX has several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

---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.