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.

Free Trading Guides
EUR/USD
Bullish
GBP/USD
Bullish
USD/JPY
Bullish
Gold
Mixed
Oil - US Crude
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
Bitcoin
Bullish
More View more
Real Time News
  • The Australian Dollar could reverse gains if #Brexit is forced to be delayed. Global growth slowdown woes and other fundamental risks may also undermine $AUDUSD upside progress. Get your $AUD market update from @ddubrovskyFX here: https://t.co/VAs2C3cpQj https://t.co/9mqJ0DSLZZ
  • Here is my trading video for the week ahead: '$EURUSD, #Pound, Volatility - The Biggest Risks and Opportunities Ahead' https://www.dailyfx.com/forex/video/daily_news_report/2019/10/19/EURUSD-Pound-Volatility---The-Biggest-Risks-and-Opportunities-Ahead-.html
  • $GBPUSD is on the verge of pushing above five-year resistance. A break above with follow-through may precede considerable upside movement. Get your GBP/USD market update from @ZabelinDimitri here: https://t.co/0qfh7TRWJn https://t.co/GImIwuGodX
  • The $AUD may resume its downtrend while the #ASX 200 stock index powers higher as dovish monetary policy drives interest rates lower. Get your market update from @IlyaSpivak here: https://t.co/UPlHZrt6c2 https://t.co/EIIf9xackw
  • (Fundamental Forecast) Australian Dollar Could Wilt if Brexit Delayed, Growth Risks Hang $AUDUSD #Brexit - https://www.dailyfx.com/forex/fundamental/forecast/weekly/aud/2019/10/19/Australian-Dollar-Could-Wilt-if-Brexit-Delayed-Growth-Risks-Hang.html?CHID=9&QPID=917702 https://t.co/2aOYhblN3g
  • The $USD faces selling pressure against the Malaysian Ringgit and Philippine Peso. More losses may be in store in $USDMYR as $USDPHP descends through rising support from 2013. Get your market update from @ddubrovskyFX here: https://t.co/t3kmFpmg1w https://t.co/miBrgxmtkA
  • $AUDJPY has launched yet another attempt to breach a multi-month downward trend resistance after failing to break above it in September. Will two consecutive defeats precede a reversal lower? Find out from @ZabelinDimitri here: https://t.co/b3nWUu0QZy https://t.co/Lj0ZSWOdp1
  • The #Euro has breached resistance guiding it lower for nearly four months, setting the stage for gains. Any near-term rise is unlikely to derail the long-term downtrend, however. Get your Euro market update here: https://t.co/gl9VRc3XEp https://t.co/K2mQuEolQc
  • We just closed out the $DXY's worst weekly tumble since January 2018...and it still hasn't cleared this frustratingly restrictive channel https://t.co/cJedpn0g8D
  • Heads Up:🇬🇧 GBP U.K. Government Sits to Discuss Brexit due at 23:01 GMT (15min) https://www.dailyfx.com/economic-calendar#2019-10-18
US Dollar, EURUSD, GBPUSD & More: Charts for Next Week

US Dollar, EURUSD, GBPUSD & More: Charts for Next Week

2019-10-11 12:00:00
Paul Robinson, Currency Strategist
Share:

The US Dollar Index (DXY) is teetering on support, and appears headed for a breakdown soon below trend support. With that, the Euro is trying to break its pattern of failed rallies at resistance, but can it? Cable is getting a monster lift on Brexit, beginning to test some important resistance levels; watch how price action plays out at these levels.

Technical Highlights:

  • US Dollar Index (DXY) on the verge of a breakdown
  • EURUSD trying to break out of the same old pattern
  • GBPUSD rally has price pressing on big resistance

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

US Dollar Index (DXY) on the verge of a breakdown

The US Dollar Index (DXY) is under pressure again today with the Euro and Sterling rallying. This has trend support from June in focus, and if momentum at this time is any indication support may not hold. A breakdown is seen as leading a larger decline to the September low at 9786, followed by the trend-line rising up off the February 2018 low and 200-day MA (both in near confluence).

US Dollar Index (DXY) Daily Chart (larger decline may be in works)

US Dollar, EURUSD, GBPUSD & More: Charts for Next Week

U.S. Dollar Currency Index (DXY) Chart by TradingView

EURUSD trying to break out of the same old pattern

The Euro is helping push the DXY over the edge, and is currently on the verge of breaking its sequence of stalling at trend resistance. The trend-line from late June held price in check yesterday, but as of now that is in the rear-view mirror. The area around 11085 is resistance, then beyond there the February 2018 trend-line.

EURUSD Daily Chart (working towards breaking resistance)

US Dollar, EURUSD, GBPUSD & More: Charts for Next Week

EURUSD Chart by TradingView

GBPUSD rally has price pressing on big resistance

GBPUSD is putting in a monster day-and-a-half so far, with it now testing the trend-line from April 2018 and very nearly the 200-day MA. This could make for an interesting spot as confluent trend resistance comes into play. It’s a spot to look for Cable to stall, but that doesn’t, with headline risk and momentum in play, necessarily make it a great spot to be short.

GBPUSD Daily Chart (big momentum into confluent resistance)

US Dollar, 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.

DISCLOSURES

News & Analysis at your fingertips.