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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
EURUSD: Waiting to Get Short

EURUSD: Waiting to Get Short

Ilya Spivak, Head Strategist, APAC

As suspected last week, EURUSD moved higher after putting in a bullish Piercing Line candlestick pattern. The pair has now overcome resistance at 1.3358, the 38.2% Fibonacci retracement level, meeting a minor barrier at a rising channel top (currently at 1.3425). I maintain a broadly bearish outlook, viewing the recent advance as corrective within a larger multi-year downtrend initiated in mid-2008, and I will look for a selling opportunities as they arise. An actionable signal is absent for the time being however and I will remain on the sidelines until one emerges.

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