• 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

Will EUR/AUD, EUR/CHF, EUR/CAD Rise Next?

Forex Tips by Forex Tips
July 24, 2020
in Technical Analysis
0
EUR/USD Pulls Back from July High as EU Splits COVID Recovery Fund
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter


Euro, EUR/AUD, EUR/CHF, EUR/CAD – Talking Points

  • Euro may push higher against major counterparts
  • EUR/AUD is eyeing a bullish candlestick pattern
  • EUR/CHF faces new range, EUR/CAD may climb

Euro Technical Analysis

The Euro may be readying to accelerate gains against its major counterparts. On the daily chart is my majors-based Euro index, and it has confirmed an upside breakout through a zone of resistance that has held since late May. Rising support from late February is also guiding EUR higher despite aggressive losses back in March and April. The 61.8% Fibonacci retracement is now in focus at 1.5657.

Top Trading Lessons

Top Trading Lessons

Recommended by Daniel Dubrovsky

Top Trading Lessons

Majors-Based Euro Index – Daily Chart

Euro Technical Forecast: Will EUR/AUD, EUR/CHF, EUR/CAD Rise Next?

Chart Created in TradingView

*Majors-Based EUR Index Averages Euro Versus USD, JPY, GBP and AUD

EUR/AUD Technical Outlook

The Euro may attempt to push higher against the Australian Dollar after EUR/USD formed a Morning Star candlestick pattern. This is a bullish formation, but prices will also have to overcome the 50-day Simple Moving Average (SMA). A daily close above 1.6401 could pave the way to test 1.6590, an inflection level established in January. A turn lower would place the focus on key support, a range from 1.6034 to 1.6117.

Discover your trading personality to help find optimal forms of analyzing financial markets

EUR/AUD – Daily Chart

Euro Technical Forecast: Will EUR/AUD, EUR/CHF, EUR/CAD Rise Next?

Chart Created in TradingView

EUR/CHF Technical Outlook

EUR/CHF is struggling to find more gains in the aftermath of a Falling Wedge chart formation, which typically carries bullish implications. Resistance seems to have formed between 1.0778 and 1.0797, with key support at 1.0717. Still, the dominant downtrend may remain intact by key falling resistance from 2018. “Potential support” may reinstate the focus to the upside if prices fall next – blue-dashed line on the chart below.



of clients are net long.



of clients are net short.

Change in Longs Shorts OI
Daily -3% -9% -5%
Weekly 15% -26% -2%

EUR/CHF – Daily Chart

Euro Technical Forecast: Will EUR/AUD, EUR/CHF, EUR/CAD Rise Next?

Chart Created in TradingView

EUR/CAD Technical Outlook

After much persistent consolidation, EUR/CAD is making meaningful upside progress, but it may not necessarily be in the clear yet. Negative RSI divergence warns that upside momentum is fading. At times, this can precede a turn lower. Near-term rising support from late May – red line below – could keep losses at bay. Otherwise, the Euro may rise against the Canadian Dollar towards the 38.2% Fibonacci extension at 1.5714.

EUR/CAD – Daily Chart

Euro Technical Forecast: Will EUR/AUD, EUR/CHF, EUR/CAD Rise Next?

Chart Created in TradingView

— Written by Daniel Dubrovsky, Currency Analyst for DailyFX.com

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter





Source link

Share76Tweet47

Related Posts

USD/CAD BoC Breakdown– Loonie Levels

by Forex Tips
January 20, 2021
0

Canadian Dollar Technical Price Outlook: Near-term Trade LevelsCanadian Dollar updated technical trade levels – Daily & Intraday ChartsUSD/CAD carves...

S&P 500, Dow Jones & Nasdaq 100 Charts – Continuing to Channel Higher

S&P 500, Dow Jones & Nasdaq 100 Charts – Continuing to Channel Higher

by Forex Tips
January 20, 2021
0

U.S. Indices Technical Highlights:S&P 500 continues to work its way higher within a channelDow Jones treading water in record...

AUD/JPY, EUR/JPY Poised to Gain Ground

by Forex Tips
January 20, 2021
0

Japanese Yen, AUD/JPY, EUR/JPY, JPY Technical Analysis, IGCS – Talking Points:Inverse Head and Shoulders bottom hints at further gains...

Loonie’s Wings Clipped? Levels for CAD/JPY, USD/CAD

by Forex Tips
January 19, 2021
0

Canadian Dollar Forecast Overview:The Canadian Dollar has struggled to recapture bullish momentum as FX markets continue to rebalance US...

New Zealand Dollar Technical Analysis: AUD/NZD, NZD/JPY, NZD/USD

by Forex Tips
January 19, 2021
0

New Zealand Dollar, AUD/NZD, NZD/JPY, NZD/USD, Technical Analysis – Talking Points:NZD/USD eyeing a push to key support at the...

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.