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
EUR/USD
Bullish
GBP/USD
Bearish
USD/JPY
Bullish
Gold
Mixed
Oil - US Crude
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
Bitcoin
Bearish
More View more
Real Time News
  • Japan said 2 people who were on the cruise ship off Yokohama died from the #coronavirus, bringing total domestic fatalities from the Wuhan virus to 3 -BBG citing NHK
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.26%, while traders in France 40 are at opposite extremes with 85.30%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/2ReikABM3V
  • Following this risk aversion, my #ASEAN-based #USD index is testing a close above key resistance (August highs) with negative RSI divergence showing fading downside momentum which is a downside risk. Clearing this technical barrier exposes the Fib extensions on the chart below https://t.co/CsvcjsJF9i
  • Canadian Dollar Forecast: #GBPCAD, #CADCHF, #NZDCAD, #EURCAD - https://www.dailyfx.com/forex/market_alert/2020/02/20/Canadian-Dollar-Forecast-GBPCAD-CADCHF-NZDCAD-EURCAD.html
  • $USDSGD BRIEFLY SPIKES OVER 1.1% in Asia trade as sentiment deteriorates (#SPX down) as haven-linked #USD gains. This is despite #Fitch saying that Singapore's budget deficit does not jeopardize its 'AAA' rating with public finances remaining on a sound footing #MAS #Singapore https://t.co/1OBRkxmMX6
  • This debate is #savage
  • The $GBP recovered some lost ground against the US Dollar but a break of key support on the way lower from 12-year resistance points to a bearish bias. Get your market update from @IlyaSpivak here: https://t.co/RxfVeYlGxi https://t.co/JsvH1GHxgh
  • RT @RedboxWire: #BREAKING CHINA'S NATIONAL HEALTH COMMISSION SAYS HUBEI PROVINCE LOWERED ITS CORONAVIRUS CASE TOLL BY REMOVING CLINICALLY D…
  • China #coronavirus update February 19: 1,779 patients discharged 74,576 total confirmed reports 114 new Wuhan virus deaths 394 additional cases -BBG
  • Markets turning "risk off" after South Korea reported 31 more cases of the #coronavirus and when China cut prime rates (as expected). Seems like the latter was not enough to satisfy the markets. $NZDUSD and $AUDUSD pointing lower with #SPX and #Nikkei225 futures down https://t.co/ttqb5MnfVL
EUR/USD: Selling Opportunity Ahead as Rally Clears 1.30

EUR/USD: Selling Opportunity Ahead as Rally Clears 1.30

2010-07-30 08:41:00
Ilya Spivak, Sr. Currency Strategist
Share:

Strategy: Pending Short

EURUSD has continued to push higherafter confirming a Head and Shoulders bullish reversal chart formation, with prices now taking out resistance at the 61.8% Fibonacci retracement of the 4/12-6/7 downswing (1.30). From here, prices aim to challenge 1.3266, the 76.4% Fib as well as the upside target implied by measuring the distance between the head and neckline of the H&S formation. We maintain a broadly bearish bias – a view reinforced by emerging negative RSI divergence – and will continue to look for the current upswing to yield an attractive selling opportunity.

candles_073010_eur_body_073010_EUR.png, EUR/USD: Selling Opportunity Ahead as Rally Clears 1.30

To discuss these strategies with other traders, please visit the Candlestick Forum

To receive future articles by email, please contact Ilya at ispivak@dailyfx.com

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

DISCLOSURES

News & Analysis at your fingertips.