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.

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
Subscribe
Please try again
More View more
EURUSD: Candle Setup Hints Upswing Ahead

EURUSD: Candle Setup Hints Upswing Ahead

Ilya Spivak, Head Strategist, APAC

Strategy: Pending Short

EURUSD put in a bullish Piercing Line candlestick pattern above support at 1.3055, the 38.2% Fibonacci retracement level, hinting a recovery is ahead. Initial resistance lines up in the 1.3157-1.3220 area, with a break above that exposing the February 9 swing high at 1.3321. We continue to see the overall bias as bearish and will see any forthcoming advance as an opportunity to enter short.

EURUSD_Candle_Setup_Hints_Upswing_Ahead_body_Picture_5.png, EURUSD: Candle Setup Hints Upswing Ahead

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow me on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to ispivak@dailyfx.com

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

DISCLOSURES