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.

Free Trading Guides
Oil - US Crude
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
  • The politics of the US and UK may be starkly divided but their grip on the vast, $6.6 trillion global foreign exchange trade seems as tight as ever. Get your market update from @DavidCottleFX here:https://t.co/xTKHOvrIqg https://t.co/z7ogzy00dy
  • What are the Market cycles? How are #currencies impacted in these cycles? How can these cycles impact #forextrading patterns? Find out here: https://t.co/ckr2fUOWqW https://t.co/g7iT8bpi7f
  • What are a few of the common trading mistakes made by traders? Find out from @WVenketas here: https://t.co/d3OFc4yGao #tradingstyle https://t.co/wQ1MAkOb0n
  • The UK population voted the Conservative government back in with a strong majority, giving PM Johnson the backing to push Brexit through. And Sterling (GBP) likes it. Get you $GBPUSD market update from @nickcawley1 here: https://t.co/tjCHWDxoWm https://t.co/Z7Vaadxy5r
  • #Gold prices may fall while the US Dollar gains even as economic policies championed by the Trump administration invite inflation. Get your $gld markets news from @IlyaSpivak here:https://t.co/4lHhHsby56 https://t.co/zF4EyLIRWM
  • Lessons from Bretton Woods are forgotten, the US-China #tradewar represents a true existential threat to the post-World War II international trade order, and in turn, the globalized economy that has grown out of the ashes of history. More from @CVecchioFX :https://t.co/paaBxX6Xt0 https://t.co/tcjkQnaBWl
  • What are the truths and myths of #forex trading? Find out from @DailyFX analysts here: https://t.co/uF75VPzstr #FOMOintrading https://t.co/bDXG2dV3wG
  • The US Dollar technical outlook against the Euro, British Pound, Australian Dollar and New Zealand Dollar are discussed. Large wicks left signs of indecision, will reversals follow? $EURUSD $GBPUSD $AUDUSD $NZDUSD - https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2019/12/15/US-Dollar-Technical-Outlook-EURUSD-GBPUSD-AUDUSD-NZDUSD.html?CHID=9&QPID=917702 https://t.co/dpuIppxo3F
  • What are some trading mistakes @nickcawley1 made during his career and what did he learn from them? Find out: https://t.co/y3cckNW22W https://t.co/vUQyVl6b0e
  • Growth linked currencies have gained as investors hope for progress on the trade front as well as stimulus from the Fed. The global economy however remains depressed and seems likely to remain so. Get your market update from @DavidCottleFX here: https://t.co/jt1HH9AHLM https://t.co/Yz65AMJYlm
EUR/USD Breaks Critical Resistance to New 2017 Highs

EUR/USD Breaks Critical Resistance to New 2017 Highs

2017-03-27 12:34:00
Walker England, Forex Trading Instructor

Talking Points:

  • EUR/USD Breaks Critical Points of Resistance
  • 200 Day MVA is Now Acting Support at 1.0843
  • Looking for additional trade ideas for the Forex market? Read Our Market Forecast

The EUR/USD is breaking out through multiple points of resistance this morning, as the pair trades to new 2017 highs. The first point of resistance broken was the EUR/USD’s 200 day MVA found at 1.0843. This movement was quickly followed by a breakout in price above the December 2016 swing high at 1.0868. As prices rise, traders should consider that both of these points may now be references as values of support.

In the event that the EUR/USD reverses lower, traders should look for prices to trade back below both of these values before considering a turn in the Daily trend. Finally a shift in the markets short term trend may be identified beneath today’s 10 Day EMA. This value is found at 1.0808, and a price decline below this point would suggest that this morning’s breakout has been invalidated.

EUR/USD Daily Chart with Averages

Please add a description for the image.

(Created Using IG Charts)

Market sentiment for the EUR/USD now reads at fresh extremes, with SSI totaling -2.58. This is a significant shift from last week’s reading of -1.16. With 72% of traders short the market, this typically suggests that the EUR/USD may continue to trend higher. It should be noted that traders have remained net short the EUR/USD from March the 15th. From this point, prices have rose as much as 283 pips. If the market continues to trend higher, it would be expected to see sentiment remain near their current negative extremes. Alternatively in the event of a price reversal, sentiment figures would be expected to neutralize as the EUR/USD trades back from its new standing highs.

Want to learn more about trading with market sentiment? Get our Free guide here.

EUR/USD Breaks Critical Resistance to New 2017 Highs

--- Written by Walker, Analyst for DailyFX.com

To Receive Walkers’ analysis directly via email, please SIGN UP HERE

See Walker’s most recent articles at his Bio Page.

Contact and Follow Walker on Twitter @WEnglandFX.

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


News & Analysis at your fingertips.