EUR/USD

This is the most popular currency pair in the world, representing the world's two largest economies. The Euro was created to facilitate cross-border trade of European trading partners. Since its inception in 1999, the pair has faced considerable volatility as the world has faced multiple events of volatility such as the tech boom becoming the tech bust, the real estate bubble, and the European Debt Crisis which still has yet to find long-term resolution.


SSI: The Speculative Sentiment Index


Last Week
-1.21
Current
---
Short
Chg. Open Interest
7.8%
Outlook
bullish

Support & Resistance

EUR/USD
With the USDOLLAR at Key Support, is Yellen the Last Line of Defense?
S11.1143 M R31.1768 S
S21.0995 S R21.1473 M
S31.0711 S R11.1361 S
Trend
up
Volatility
73%

news


With the USDOLLAR at Key Support, is Yellen the Last Line of Defense?

The USDOLLAR Index continues to flirt with a major support region around 12035. Will Fed Chair Yellen make or break the greenback today?
Continue Reading


EUR/USD Breakout Susceptible to Upbeat Fed Testimony


Trading Big Picture Themes Requires Different Approach, Strategy


EUR/USD Closing in on Range Expansion Level of 1.14


The EUR/USD Breaks to New Weekly High



Real Time News


Analyst picks

Jeremy Wagner   

Head Forex Trading Instructor

My Picks: Long EUR/USD
Expertise: Elliott Wave, Technical Analysis
Average Time Frame of Trades: 2 Days – 2 Weeks


Pivot Points

Candlestick

Symbol Trends Bias Time Frame Candlestick Formation Candle Bias
EUR/USD
weekly PIERCING LINE

EUR/USD Candlestick Analysis: Awaiting Upside Follow-Through

Fundamental analysis, economic and market themes

Connect via:

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

  • EUR/USD Strategy: Flat
  • Reversal Signal Waiting for Follow-Through
  • Bounce to be Treated as Opening to Get Short

The Euro may be bottoming against the US Dollar following the appearance of a bullish Piercing Line candlestick pattern. A move above the 14.6% Fibonacci retracement at 1.0973 exposes the 23.6% threshold at 1.1291.Alternatively, a push belowthe 14.6% Fib expansion at 1.0535 exposes the intersection of a multi-year channel floor and the 23.6% threshold at 1.0217.

Our long-term fundamental outlook continues to favor broad-based Euro weakness. With that in mind, we will look to on-coming gains as an opportunity to establish a short position at more attractive levels once the upswing is exhausted.

EUR/USD Candlestick Analysis: Awaiting Upside Follow-Through

Weekly Chart - Created Using FXCM Marketscope

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com


Forex Economic Calendar


USD Fed's Yellen to Appear Before House Financial Services Committee
h
A: 
F: 
P: 

USD DOE U.S. Crude Oil Inventories
m
A: -754k
F: 2850k
P: 7792k

USD Monthly Budget Statement
m
A: 
F: $22.8b
P: -$17.5b

USD Initial Jobless Claims
m
A: 
F: 280k
P: 285k

USD Continuing Claims
m
A: 
F: 2250k
P: 2255k

USD Fed's Yellen to Appear Before Senate Banking Committee
m
A: 
F: 
P: 
A: Actual   F: Forecast    P: Previous