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
Oil - US Crude
Mixed
Wall Street
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
Gold
Bearish
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
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
More View more
Real Time News
  • US-China tensions remain, #ECB stands ready to expand QE purchases, EU-UK trade talks in focus. Get your #equities market update from @JMcQueenFX here: https://t.co/hKLNJKqMoz https://t.co/h45Cngonhw
  • #Gold has a short-term bullish set-up that may play nicely with USD weakening. The longer and shorter-term path of least resistance remains higher. Get your $XAUUSD technical analysis from @PaulRobinsonFX here:https://t.co/6gt3F9LuGP https://t.co/CR4z6lul34
  • AiG Manufacturing Index (May): 41.6 vs 35.8 prior. Factory sector shrank for a second consecutive month, but at a slower pace than April. #AUDUSD
  • US equity futures pointed lower along with cycle-sensitive AUD and NZD while anti-risk #JPY and #USD are edging higher. Possible catalysts are protests in American cities combined with tension between the US and China over Hong Kong.
  • Reminder: Weekly Strategy Webinar tomorrow morning at 8:30am ET on DailyFX! https://t.co/lxd5fZnn4H
  • (Weekly Fundamental Outlook) The medium-term #gold outlook still seems favorable as the #Fed, ECB and more keep rates around 0. Immediate event risk ahead includes the RBA and BoC interest rate decisions, US jobs data and #Brexit talks #XAUUSD - https://www.dailyfx.com/forex/fundamental/forecast/weekly/chf/2020/05/30/Gold-Prices-Face-RBA-BoC-ECB-US-Jobs-Data-and-Brexit-Talks.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/m8sRNc4L5H
  • U.K. Eurozone Czech Poland Germany Italy France Spain Indonesia Hong Kong Singapore Japan Unemployment stats: US Eurozone
  • Hello there, traders! Heads up: we have got a data-packed week ahead of us. Here are the highlights: Central bank rate decisions: - BOC - ECB Markit PMI data out of: China US Vietnam Malaysia South Korea Philippines Thailand Taiwan India Turkey (continued⬇️)
  • The European Commission proposed an ambitious recovery fund, containing the key parts of the Franco-German aid package with grants at EUR 500bln and loans at EUR 250bln. Get your $EURUSD update from @JMcQueenFX here: https://t.co/LmIaveRajb https://t.co/LWTBVLIDBf
  • The trio of central banks overseeing the commodity currencies have already cut their main rates to all-time lows. Get your market update from @CVecchioFX here: https://t.co/OSUXrN5P3j https://t.co/3nwDel6e28
EURUSD: Possible Bounce a Selling Opportunity

EURUSD: Possible Bounce a Selling Opportunity

2012-05-17 02:31:00
Ilya Spivak, Head Strategist, APAC
Share:

Strategy: Short at 1.3073 (Avg), Targeting 1.2674

Floating Profit / Loss: +333 pips

We initially sold EURUSD at 1.3121 and added to the position at 1.3026. The pair sold off after putting in a bearish Harami candlestick pattern and we revised our objective to 1.2674 – the 50% Fibonacci expansion level – as well as trailed our stop-loss to breakeven (1.3073) after prices met the initial downside objective. EURUSD is now showing a Spinning Top candlestick above support, hinting a corrective bounce may be ahead. We will treat any advance as an opportunity to add to the short in the days ahead. Initial resistance lines up in the 1.2823-65 area. Alternatively, a break below support exposes the next objective at 1.2483.

EURUSD_Possible_Bounce_a_Selling_Opportunity_body_Picture_5.png, EURUSD: Possible Bounce a Selling Opportunity

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

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya 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

News & Analysis at your fingertips.