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
EUR/USD
Bullish
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
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
Wall Street
Bullish
Gold
Mixed
GBP/USD
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
USD/JPY
Bearish
More View more
Real Time News
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/1G7CRsegRX https://t.co/jBFhVRWLyy
  • Copper prices seem to have stalled just shy of key chart resistance as geopolitical tensions weigh on the global-growth proxy. Get your copper market update from @ddubrovskyFX here:https://t.co/qseySE5dWP https://t.co/u0HoA9tVvz
  • The #Euro may pay the price for the EU’s stance on its digital sovereignty while the US Dollar eyes closely-scrutinized US fiscal stimulus talks. Get your $EURUSD market update from @ZabelinDimitri here:https://t.co/Ga3DdHod7j https://t.co/Mfhb5iqLF6
  • The Indian Rupee struggled to benefit from an unexpected RBI rate hold as the Nifty 50 inched closer to invalidating a bearish reversal signal. What is the road ahead for USD/INR? Find out from @ddubrovskyFX here:https://t.co/Zjiay6hQWT https://t.co/TvedUlvwxd
  • While the balance sheet did not set higher highs US initial jobless claims fell to their lowest since the middle of March If you invert jobless claims, it set a higher high alongside #SP500 #FoodForThought ahead of the weekend, and have a good one! https://t.co/n6SaEdnpMi https://t.co/AKNYNlUa4l
  • Copper prices seem to have stalled just shy of key chart resistance as geopolitical tensions weigh on the global-growth proxy. Get your copper market update from @ddubrovskyFX here:https://t.co/qseySE5dWP https://t.co/zuQMaDqScY
  • When is a 1.76 million jobs added to the US economy underwhelming? When it is still 12.88 million jobs from the pre-pandemic level and economists warn the subsequent gains are going to slow sharply... https://t.co/IUMBsiGYYC
  • The New Zealand Dollar may extend its surge from yearly lows as it tentatively signals a cyclical upturn. NZD/USD, NZD/JPY rates poised for further gains. Get your market update from @DanielGMoss here: https://t.co/vrOuFkvWpX https://t.co/wKbQNFAZbn
  • The US Dollar is testing key support levels against the Singapore Dollar, Malaysian Ringgit, Philippine Peso and Indonesian Rupiah following persistent losses. Get your #ASEAN currencies market update from @ddubrovskyFX here: https://t.co/qqYDELqydd https://t.co/nh7SspnIzF
  • Another week of divergence between the #SP500 and the #Fed balance sheet S&P 500 +2.45% vs +1.74% prior B/S -0.06% vs -0.23% prior Focus may have lately been shifted to US fiscal stimulus hopes which all eyes are on this weekend and next week possibly #Liquidity https://t.co/FatSqvs2al
EURUSD Analysis: Indecision Before the Next Move

EURUSD Analysis: Indecision Before the Next Move

2018-08-14 12:10:00
Nick Cawley, Strategist
Share:

EURUSD – Price, Chart and Technical Analysis

  • EURUSD remains weak and rangebound.
  • Fibonacci resistance and oversold market conditions – which one will prevail?

The latest IG Client Sentiment Indicator shows how retail are positioned in EURUSD - 60.7% long - and how daily and weekly changes can affect trading decisions.

The DailyFX Q3 forecasts and analysis of USD and EUR are available to download here.

EURUSD Needs a Stimulus to Break Out

After breaking below 1.1400 at the end of last, EURUSD has remained in a 1.1365-1.1433 range for the last three trading sessions. The bearish sentiment in the pair was boosted by the ongoing strength in USDTRY, prompting fears that European bank exposure to the weak Turkish Lira could cause balance sheet problems going forward. Recent Euro-Zone data and sentiment indicators have generally met expectations, giving the single currency little help, while in the US, data watchers are waiting for the latest retail sales release (Wednesday 12:30 GMT) and the University of Michigan Sentiment report (Friday 14:00 GMT).

DailyFX Real-Time Economic Calendar

Euro-Zone Data Tuesday August 14

EURUSD Analysis: Indecision Before the Next Move

EURUSD Watches Fibonacci Battle RSI Indicator

A look at the daily chart below shows how EURUSD is stuck below the 50% Fibonacci retracement of the Janaury 2017 – February 2018 rally at 1.1448 which may prove difficult to break through, all things being equal. In the bottom right of the chart, the RSI indicator is in oversold territory which may provide solace for EURUSD bulls. One of the two indicators will eventually brak and the current market indecision will be erased. The last tow candles on the chart highlight this current indecision and tonight’s close may offer more clues for the EURUSD short-term prospects. A break higher targets 1.1540 before the 20-day moving average at 1.15874 while a further move lower should find strong support at the 61.8% Fibonacci retracement level at 1.11870.

EURUSD Daily Price Chart (February – August 14, 2018)

EURUSD Analysis: Indecision Before the Next Move

If you are new to foreign exchange, or if you would like to update your knowledge base, download our New to FX Guide and our Traits of Successful Traders to help you on your journey.

What’s your opinion on EURUSD? Share your thoughts with us using the comments section at the end of the article or you can contact the author via email at Nicholas.cawley@ig.com or via Twitter @nickcawley1

--- Written by Nick Cawley, Analyst

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

DISCLOSURES

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.