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
-1.73
Current
---
Short
Chg. Open Interest
5.9%
Outlook
bullish

Support & Resistance

EUR/USD
EUR/USD Technical Analysis: Near-Term Down Trend at Risk
S11.1215 M R31.1577 W
S21.1103 M R21.1439 S
S31.0991 W R11.1353 M
Trend
down
Volatility
14%

news


EUR/USD Technical Analysis: Near-Term Down Trend at Risk

The Euro is poised to break the near-term down trend established from mid-April highs as prices work to secure a fifth consecutive daily gain.
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Analyst picks

Tyler Yell, CMT   

Forex Trading Instructor

My Picks: Bullish EUR/USD toward August 2015 Highs
Expertise: Elliott Wave, Technical Analysis, Intermarket Analysis
Average Time Frame of Trades: 1 Week - 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

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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


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