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
Mixed
USD/JPY
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
Gold
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
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • Some of the top event risk in the next 24 hours: OECD Economic Outlook (10:00) ECB Account for October Policy Meeting (12:30) Bank of Canada’s Poloz Gives Fireside Chat in Toronto (13:40) #EUR #CAD
  • #Dow Jones: The top-side trend-line from January 2018 is the targeted objective on weakness, and depending on how price action plays out it could be a spot for dip-buyers. Get your market update from @PaulRobinsonFX here: https://t.co/A6reQC8XZV https://t.co/uDBsE1cGtD
  • Singapore 3Q GDP rose 2.1% Q/Q basis with an estimate of 1.8%. The economy is set to expand 0.5-2.5% in 2020. -BBG #SGD
  • In the IMF's October 2019 GFSR, policymakers used the word "leverage" 107 times, "risk" 442 times, "debt" 381 times, "trade tensions" 13 times and "downturn" also 13 times. I'm picking up on a theme here...
  • Over the past 30 days, #JPY has been the best performing G10 currencies vs. USD with 0.14% spot-returns while #CAD has been the worst with -1.64%
  • The USD/JPY, AUD/USD and NZD/USD may decline after news passed that the US-China trade deal may be delayed, Trump wants China to step up efforts and the HK Bill could come into law $USDJPY $AUDUSD $NZDUSD - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2019/11/20/AUDUSD-NZDUSD-USDJPY-Slide-May-Extend-on-Trade-War-Fears.html?CHID=9&QPID=917702 https://t.co/jVK51RAdxh
  • #Gold prices may rise along with the $SEK and $NOK if the ECB and FOMC minutes fuel rate cut bets and boost the appeal of non-interest-bearing assets and riskier currencies. Get your market update from @ZabelinDimitri here: https://t.co/PNxxUZkIs3
  • #NOK, #SEK and the #NZD are expected to be the most active G10 currencies vs #USD with 1-week implied volatilities at 7.95, 7.57 and 6.85 respectively
  • #Euro Price Outlook: $EURUSD Rebound to Challenge Downtrend Resistance - https://t.co/XocELeKvtt https://t.co/XgefFa8ueO
  • $EURUSD Daily Pivot Points: S3: 1.1036 S2: 1.1056 S1: 1.1067 R1: 1.1087 R2: 1.1095 R3: 1.1115 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
EURUSD: Stay Short on Test Above 1.40

EURUSD: Stay Short on Test Above 1.40

2011-03-18 02:31:00
Ilya Spivak, Sr. Currency Strategist
Share:

Strategy: Short at 1.3829, Targeting 1.3482

Floating Profit / Loss: -235 pips

We sold EURUSD at 1.3829. Prices are now testing through our stop-loss at 1.4035, but a daily close above this level has not materialized warranting an exit. Furthermore, overt negative divergence on relative strength studies hints conviction behind the move higher is lacking, arguing against cutting the trade prematurely. As such, we will remain short, looking for prices to reverse lower though the end of the trading week to open the door for a push below rising trend line support to challenge 1.3750 and ultimately open the door for a decline to our soft target at 1.3482.

EURUSD_Stay_Short_on_Test_Above_1.40_body_031711_EUR.png, EURUSD: Stay Short on Test Above 1.40

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.