Big-picture Technical Outlook: EUR/USD, S&P 500, Gold & Oil Prices

With the final quarter of the year set to begin next week, we take a look at where prices of the euro, SPX, gold, and oil may be headed and key technical signposts to watch.

Technical Highlights:

  • EUR/USD has potential for a head-and-shoulders
  • Gold set to have a more volatile month, range-break towards new lows
  • Crude oil, watch the 2008 trend-line on further strength
  • SP 500 bull continues until Feb 2016 t-line/200-day combo broken

See what fundamental drivers and technical developments will guide markets in the final chapter of the year in the just released DailyFX Q4 Trading Forecasts.

EUR/USD has potential for a head-and-shoulders

EUR/USDhas been chopping around in recent months, but that may soon end as we head towards the end of the year. One potential scenario on the radar right now is a head-and-shoulders, with the right shoulder nearing completion if it is to come to fruition. Support levels below need to break (August low/neckline), though, before validation and momentum starts to really pick up. But if a breakdown occurs we could be looking at lows carved out from 2015-2017.

EUR/USD Weekly Chart (HS)

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