Tournaments always throw up surprises but the weekend’s quarter-finals well and truly proved there are no safe bets in women’s football any more. Last week this column highlighted the stuttering starts to Euro 2017 of Germany and France, two teams at the forefront of the game. Germany, having lifted the trophy on the previous six occasions, have been at the top for decades. France, the perennial underachievers with a recent record that showed immense promise, have made a big investment with the aim of making their mark before hosting the 2019 World Cup.

Both teams will be wondering what might have been after their exits. Neither felt any kind of momentum in the group stages and to some extent rode their luck. For Germany, though, this early departure was more significant.

They have won eight out of the nine European Championships they have competed in since they first qualified in 1989. They were consecutive World Cup champions in 2003 and 2007. Since Fifa world rankings began in 2003 they have been first or second every year – a brief dip to third in March 2009 quickly rectified by September. Only USA have bettered or matched their development.

Before Euro 2017 their only defeat this year was by USA in the SheBelieves Cup in March. But things have changed. Others are catching up. Germany’s quarter-final defeat by Denmark feels like a power shift in European football – not a shift to any other team in particular but across the board. The most recent figures for investment by European associations in women’s football, noted here last week, showed Germany were third on €9m, behind England’s €15.9m (which will rise to £17.7m – €19.8m – this year) and France’s €9.8m. However, they still dominate when it comes to the numbers of registered players at both adult and youth levels – the legacy of decades of investment when others fell short.

A day’s delay to play at the Sparta Stadion in Rotterdam, where torrential rain left the pitch unplayable – look up the gif of the groundsperson trying to convince Germany’s manager, Steffi Jones – could not stop Germany’s luck in this tournament finally running out. Isabel Kerschowski’s third-minute goal against Denmark had bounced over the line after Stina Lykke Petersen made the save but failed to hold on to the ball – goalkeeping errors have been in abundance in Euro 2017.

Fans in Germany have provided the biggest TV audiences of the tournament – in the group stages seven million watched them play Russia (a staggering 24% market share) and 6.1m saw the game with Sweden (22.4%). The depth of support for women’s football in the country, secured through decades of positive investment and serious backing, is clear. To put those figures in context, 3.3m (a 15.5% market share) watched Channel 4’s coverage of England’s top-billed quarter-final win over France, a big jump from the 2.4m who watched the Lionesses’ semi-final exit to Japan at the 2015 World Cup.

Germany supporters could have been forgiven for thinking their early goal marked the turnaround they were waiting for – a sign their big hitters were finally finding their feet. They created plenty of chances but again lacked cutting edge and Denmark’s nerves at facing the 22-year champions gradually eased and they started to exploit defensive frailties. Buoyed by the chances they were carving out, Denmark came out quickly in the second half, Stine Larsen swinging in a cross for Portland Thorns’ Nadia Nadim to head home within minutes of the break. With the game heading for extra-time the right-back Theresa Nielsen was the next beneficiary of a cross from the right, nodding in the 83rd-minute winner.

This Germany side never hit top gear. It is impossible to say the era of German dominance in European football is over, just as it has been impossible to predict who will progress at any stage of this competition. They very much feel like a team in transition. Since Euro 2013 a number of players have retired and Jones went into this tournament without a host of experienced internationals because of injury and fitness issues, including Bayern Munich’s Simone Laudehr and Melanie Leupolz, Lyon’s Pauline Bremer and Wolfsburg’s double-winning striker Alex Popp.

Yet a similar problem was faced by the team before 2013, forcing the then manager, Silvia Neid, to draft in youngsters, a move that paid off. This time it has not worked. Notably they failed to find the best position for their treble-winning Lyon star, and new captain, Dzsenifer Marozsán. The seeds of a world-beating team are there but how they regroup and cope with the increased competitiveness will be the real test.

Talking points

• There are many highlights from Euro 2017. One has been Austria’s surprise passage to the semi-finals. After they topped Group C ahead of France, who are ranked third in the world, most (probably including themselves) predicted their match with Spain would be the end of their impressive journey. Deadlock after 90 minutes was followed by a goalless extra time. Penalties favoured the undefeated underdogs, with the goalkeeper, Manuela Zinsberger, the hero after saving Spain’s third from Silvia Meseguer as Austria converted all five spot-kicks to win 5-3. Their celebrations did not disappoint: a singing conga line through the mixed zone led by a wheeled disco speaker complete with lights.

• While Europe focuses on the European championship, Japan, Australia and Brazil have travelled to the US to take part in the Tournament of Nations, a competition designed to give USA competitive football in the summers without a major international tournament. Japan were held to a 1-1 draw in their opener with Brazil before Australia shocked USA, a Tameka Butt goal securing a 1-0 win. In the second round of games Sky Blue FC’s top scorer Sam Kerr scored a hat-trick in Australia’s 4-2 defeat of Japan. The match that followed was a thriller. Brazil took the lead twice against USA and, with a 3-1 lead and 10 minutes to go, looked set to inflict a shock defeat on the world champions. Three goals in nine minutes for USA turned the game on its head, NWSL top scorer Megan Rapinoe grabbing a goal and assist. USA, like Germany, seem to be a team going through change, although the dramatic fightback shows that even at their worst their talent can change a game quickly.

Megan Rapinoe, left, enjoys scoring for USA against Brazil. Photograph: Mike Blake/Reuters

• Arsenal boldly announced the dropping of ‘Ladies’ from the name of their women’s team. As pioneers of women’s football for so many years, the use of ‘Ladies’ has been seen as outdated by many and its removal is to be welcomed. Not stopping there, they also stressed that ‘women’ will be used only when absolutely necessary to distinguish them from the men’s team – a real statement on where they want to see women’s football, or football, go.

• Liverpool announced they would be joining Manchester City, Lyon and Montpellier in France for the Toulouse International Cup as part of their pre-season preparations. Their manager, Scott Rogers, described it as “a fantastic opportunity to play against some of the best teams in Europe”.

• After the shock announcement last December that 18 teams in Liga MX (Mexico’s first division) had agreed to establish an under-23 women’s league to aid the national team, the maiden Liga MX Femenil kicked off at the weekend. According to ESPN there have been a number of controversies in its establishment, including lack of TV rights, US-Mexican nationals being unable to play (excluding a number of players from the international team) and homophobic and difficult conditions faced by the players. That said, the undertaking is a statement of intent from the Mexican Football Federation. The first game saw the home team Pachuca defeat Pumas 3-0.