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Euro Forecast: EUR/USD Price Outlook Still Positive, Reaching for 1.22
2021-05-09 00:00:00
Monthly Forex Seasonality - May 2021: Sell in May and Go Away? Not for USD, Stocks
2021-05-08 19:00:00
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2021-05-08 15:30:00
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2021-05-06 14:30:00
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Markets Week Ahead: Gold, EUR/USD, S&P 500, FTSE 100, Inflation, Sentiment
2021-05-09 16:00:00
Monthly Forex Seasonality - May 2021: Sell in May and Go Away? Not for USD, Stocks
2021-05-08 19:00:00
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2021-05-08 21:00:00
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  • The US Dollar plummeted on the heels of NFP with an outside-weekly reversal risking further May losses. Here are the levels that matter on the $DXY charts. Get your market update from @MBForex here: https://t.co/62p4Gd5E2c https://t.co/S6FwI8x3uK
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  • The Dollar's tumble this past week was an abrupt one. We'll see if inflation pressures trigger a shift in risk and rate expectations in the US which could turn the USD's bearings. Meanwhile, a pair I haven't highlighted ... https://t.co/yXl1aoOlIy https://t.co/TWV7tqv2y8
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  • Last week ended well for $EURUSD, with Friday’s shockingly poor US jobs data giving it a lift, and this week could well see its advance extend if it can break conclusively above resistance at 1.2150. Get your market update from @MartinSEssex here: https://t.co/EFPGUI8Uxc https://t.co/LZA6oXsmJO
  • $GBPUSD broke higher from a Symmetrical Triangle pattern late last week. Meanwhile, $EURGBP remains largely rangebound. Get your market update from @FxWestwater here: https://t.co/hnjGCww0ET https://t.co/0LcIv5Yudg
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/vg7w10la3j https://t.co/0gwSneZjOL
EURUSD: Hold Short as Prices Probe 1.22 Mark

EURUSD: Hold Short as Prices Probe 1.22 Mark

Ilya Spivak, Head Strategist, APAC

Strategy: Short at 1.2595, Targeting 1.2130

Floating Profit / Loss: +397 pips

We re-entered short EURUSD at 1.2595. Prices have now overcome our second target at 1.2364 and we have moved our stop-loss to breakeven, set to be triggered on a daily close above 1.2595. The next downside objective is 1.2130, the 61.8% Fibonacci expansion. Near-term resistance lines up at 1.2249, the 50% level.

EURUSD_Hold_Short_as_Prices_Probe_1.22_Mark_body_eurusd.png, EURUSD: Hold Short as Prices Probe 1.22 Mark

Daily Chart - Created Using FXCM Marketscope 2.0

--- 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.

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