• Contact Us
  • Homepages
Most Forex
  • For Beginners
  • Strategies
  • Technical Analysis
  • Product Reviews
  • News
  • Videos
No Result
View All Result
  • For Beginners
  • Strategies
  • Technical Analysis
  • Product Reviews
  • News
  • Videos
No Result
View All Result
Most Forex
No Result
View All Result
Home Technical Analysis

EUR/USD, USD/CAD, DXY – Dollar Charts for Next Week

Forex Tips by Forex Tips
September 11, 2020
in Technical Analysis
0
EUR/USD, USD/CAD, DXY – Dollar Charts for Next Week
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter


USD Technical Outlook:

  • DXY broke channel, has bottoming look to it
  • EUR/USD still holding onto support (for now)
  • USD/CAD working on building base for higher prices

The US Dollar Index (DXY) is working on trying to rise off an area of confluence between a level that goes back as far as 1998 and a trend-line from 2011. This week the DXY was able to snap the downward channel dating back to May, and may be on the verge of posting an inverse head-and-shoulders pattern. Yesterday’s reversal post-ECB demonstrates bullish price action. A firm rise above 94 should have the USD gaining some good traction towards an important test of the March low at 94.65.

DXY Monthly Chart (trying to life off big support)

DXY monthly chart

DXY Daily Chart (trying to life off big support)

DXY daily chart

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

EUR/USD put in a solid bearish reversal candle yesterday post-ECB, it may mark the last push higher we see for a while should support just below break. There is a channel line from May along with some lows back to last month that are helping keep the upside intact. The general price action since the end of June could still be a bullish consolidation pattern or a topping sequence, which is why watching support here is important. A firm break below 11752 could mark the beginning of a sizable drop. Keep holding above support and at some point it is still possible EUR/USD gets into gear for a run…

Building Confidence in Trading

Building Confidence in Trading

Recommended by Paul Robinson

Start building confidence today.

EUR/USD Daily Chart (sitting on support)

EUR/USD daily chart

EUR/USD Chart by TradingView

USD/CAD is working on an inverse head-and-shoulders pattern after breaking a downward channel. There are some good levels in the pair to watch between the 13130-area and around 13250. The lower threshold is working on supporting the shoulders while the upper level acts as the neckline. A push to around 13260 should have USD/CAD picking up steam. The channel off the lows can also be used as a guide moving forward.

USD/CAD 4-hr Chart (bottoming potential)

USD/CAD 4-hr chart

USD/CAD Charts by TradingView

For all the charts we looked at, check out the video above…

Resources for Forex 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, and trading guides to help you improve trading performance.

—Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX





Source link

Share76Tweet47

Related Posts

USD/MXN Picks Up Buyer Support

by Forex Tips
January 17, 2021
0

USD/MXNTechnical Forecast: Neutral Not much has changed in the USD/MXN daily chart since I talked about it last week....

US Dollar Primed to Rise? USD/SGD, USD/IDR, USD/PHP, USD/PHP

USD Surges as Index Rebounds off Trend Support

by Forex Tips
January 17, 2021
0

US Dollar Technical Price Outlook: DXY Weekly Trade LevelsUS Dollar technical trade level update – Weekly ChartUSD mounts largest...

Crude Oil Price Struggles For Momentum- Brent Oil Forecast

Pullback at Hand Before Next Leg Higher?

by Forex Tips
January 17, 2021
0

Crude Oil Technical Forecast – BearishCrude oil prices fade just before testing recent yearly high Bearish RSI divergence signals...

GBP Supported by Covid Vaccination Hopes

by Forex Tips
January 17, 2021
0

Sterling (GBP/USD and EUR/GBP) Price, Analysis and Charts:GBP/USD – Two steps forward, one step back. EUR/GBP continues to press...

USD/JPY Triangle Builds into Wedge

by Forex Tips
January 16, 2021
0

USD/JPY Technical Forecast: BullishUSD/JPY started the week by continuing the prior week’s jump, but prices soon ran into a...

Load More

Categories

  • Crypto Strategies
  • Currency
  • For Beginners
  • Forex News
  • Forex Trading Tips & Strategies
  • Investment
  • Technical Analysis
  • Videos
Forex Pulse Detector

Categories

  • Crypto Strategies
  • Currency
  • For Beginners
  • Forex News
  • Forex Trading Tips & Strategies
  • Investment
  • Technical Analysis
  • Videos

Newsletter

  • Home
  • Contact
  • Privacy Policy
  • Store

© 2018 Forex Blog

No Result
View All Result
  • Contact Us
  • Homepages

© 2018 Forex Blog.