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
Forex Analysis: EUR/USD Long Entry Setup Sought

Forex Analysis: EUR/USD Long Entry Setup Sought

Ilya Spivak, Head Strategist, APAC

Strategy: Pending Long

Prices broke above 38.2% Fibonacci expansion resistance at 1.3244, exposing the 50% level at 1.3321. A further break above that targets the 61.8% Fib at 1.3399. The 1.3244 level has been recast as near-term support. A reversal back below that aims for the 1.3128-49 area, marked by the 23.6% expansion and the September 14 close. We continue to monitor the pair for an actionable long entry in line with our 2013 outlook.

Forex_Analysis_EURUSD_Long_Entry_Setup_Sought_body_Picture_1.png, Forex Analysis: EUR/USD Long Entry Setup Sought

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, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

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

DISCLOSURES