News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • 🇪🇸 Business Confidence (JUL) Actual: 1.9 Previous: -0.9 https://www.dailyfx.com/economic-calendar#2021-07-29
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.53%, while traders in France 40 are at opposite extremes with 71.72%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/cpwf1asRZe
  • Please join @CVecchioFX at 7:30 EST/11:30 GMT for his central bank monthly webinar. Register here: https://t.co/xRVdZJNZom https://t.co/C45D6aPRIc
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Silver: 2.08% Gold: 0.86% Oil - US Crude: 0.49% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/gWiVFBgXuV
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.67% 🇨🇦CAD: 0.47% 🇬🇧GBP: 0.38% 🇪🇺EUR: 0.28% 🇨🇭CHF: 0.18% 🇯🇵JPY: 0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/bdhmxpyRrk
  • Heads Up:🇪🇸 Business Confidence (JUL) due at 10:30 GMT (15min) Previous: -1.1 https://www.dailyfx.com/economic-calendar#2021-07-29
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.81% France 40: 0.72% Wall Street: 0.43% Germany 30: 0.33% US 500: 0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/udphpYMn5y
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here: https://t.co/KDjIjLdTSk https://t.co/SkopOpNy3P
  • US Dollar Trend Still Points Higher After FOMC, Q2 GDP Eyed - https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2021/07/29/US-Dollar-Trend-Still-Points-Higher-After-FOMC-Q2-GDP-Eyed.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #USD #dollarindex #Fed #FOMC #GDP https://t.co/9ppEljRFq6
  • 💶 Industrial Sentiment (JUL) Actual: 14.6 Expected: 13 Previous: 12.8 https://www.dailyfx.com/economic-calendar#2021-07-29
Forex: Where to Sell the Euro?

Forex: Where to Sell the Euro?

Kristian Kerr, Sr. Currency Strategist

Talking Points

  • Overhead resistance should weigh on the single currency
  • Cyclical analysis points to a correction

To receive other reports from this author via e-mail, sign up to Kristian’s e-mail distribution list via this link.

The trend higher in EUR/USD looks to be in full force as the exchange rate touched its highest level in almost two years early on Thursday. Looks, however, can sometimes be deceiving. Our short-term analysis of the cycles suggests the next day or so is a potentially important “turn window” in the rate from where a downside correction could materialize. Bolstering this view somewhat is the proximity of several important resistance levels including the 61.8% retracement of the 2011 to 2012 decline at 1.3830, the 10th square root progression of the year’s low at 1.3880 and the 61.8% retracement of the 2009 to 2010 decline at 1.3895. If a correction is going to materialize during this cyclical turn window then we would expect it to occur from somewhere around this resistance zone. Strength over 1.3895 next week would completely undermine the short-term cyclical turn window.

EUR/USD Daily Chart: October 24, 2013

Range_eur_10_24_body_Picture_2.png, Forex: Where to Sell the Euro?

Charts Created using Marketscope – Prepared by Kristian Kerr

Key Event Risks in Coming Sessions:

Range_eur_10_24_body_Picture_1.png, Forex: Where to Sell the Euro?

LEVELS TO WATCH

Resistance: 1.3830 (Fibonacci), 1.3880 (Gann)

Support: .1.3770 (Gann), 1.3655(Gann)

Strategy: Sell EUR/USD

Entry: Sell EUR/USD at 1.3870

Stop: 1-day close above 1.3895

Target: 1.3770

--- Written by Kristian Kerr, Senior Currency Strategist for DailyFX.com

Are you looking for other ways to pinpoint support and resistance levels? Take our free tutorial on using Fibonacci retracements.

To contact Kristian, e-mail instructor@dailyfx.com. Follow me on Twitter at@KKerrFX.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES