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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
EUR/USD Favored Long on Trend Line Break

EUR/USD Favored Long on Trend Line Break

Ilya Spivak, Head Strategist, APAC

EUR/USD Technical Strategy: Pending Long

Prices are testing above trend line resistance at 1.3020 after putting in a bullish Piercing Line candlestick pattern. Positive RSI divergence reinforces the case for an upside scenario. A break upward on a daily closing basis initially exposes the 14.6% Fibonacci expansion at 1.3154.Near-term support is at 1.2910, the March 14 low. We will look for confirmation of a breach out to enter long in line with our 2013 outlook.

Forex_Analysis_EURUSD_Favored_Long_on_Trend_Line_Break_body_Picture_5.png, EUR/USD Favored Long on Trend Line Break

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, e-mail 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.