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.

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
EUR/USD
Bearish
Oil - US Crude
Bearish
Wall Street
Bearish
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.86%, while traders in NZD/USD are at opposite extremes with 69.17%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/yOLbxwOKhF
  • The Indian #Rupee may weaken following a breakout higher in $USDINR over the past 24 hours. Despite rising global stock market volatility, the #nifty50 has been holding its ground. Could it capitulate lower? - https://www.dailyfx.com/forex/technical/article/special_report/2020/10/29/Indian-Rupee-Nifty-50-Forecast-USDINR-Breakout-as-Volatility-Spikes.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/GPQSQMvUsn
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.28% 🇨🇦CAD: 0.24% 🇬🇧GBP: 0.16% 🇨🇭CHF: 0.10% 🇪🇺EUR: 0.07% 🇯🇵JPY: -0.15% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/YuqROnNqY7
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: US 500: 0.95% Wall Street: 0.95% France 40: 0.56% Germany 30: 0.46% FTSE 100: 0.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/kACR087bkv
  • $USD Technical Analysis: $AUDUSD, $EURUSD, $GBPUSD Key Levels to Watch - https://www.dailyfx.com/forex/technical/home/analysis/us_dollar_index/2020/10/29/USD-Technical-Analysis-AUDUSD-EURUSD-GBPUSD-Key-Levels-to-Watch.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr https://t.co/qhWkEqOHVW
  • Technical indicators are chart analysis tools that can help traders better understand and act on price movement. Learn more about the importance of technical analysis here: https://t.co/NpC1D8y4Aa https://t.co/RkYUVwtuaF
  • BoJ: Risks are tilted to downside for economic, price outlook. Outlook assumes no large-scale spread of virus -BBG
  • Brush up your knowledge on trade-wars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here: https://t.co/ZWaL6laTU5 https://t.co/ZhHOodO1yI
  • BoJ downgrades view on FY2020 CPI and GDP, adding that it will take more action without hesitation if needed -BBG
  • BoJ: Maintains policy balance rate at -0.1% Maintains 10-year JGB yield target at about 0% -BBG
EUR/USD Left Wanting For Reversal Signals After Cataclysmic Drop

EUR/USD Left Wanting For Reversal Signals After Cataclysmic Drop

2014-09-05 10:02:00
David de Ferranti, Currency Analyst
Share:

Talking Points

  • EUR/USD Technical Strategy: Shorts Preferred
  • Recovery Questionable In Absence of Bullish Signals
  • H4 Doji Denotes Hesitation Near Intraday Support

EUR/USD’s cataclysmic decline has left an absence of bullish reversal signals in its wake. Within the context of a core downtrend this casts some doubt over the potential for a sustained recovery for the pair. A daily close below the 1.2920 hurdle would set the scene for a run on the July 2013 low near 1.2755.

EUR/USD: Awaiting Turning Signal To Build Recovery Hopes

EUR/USD Left Wanting For Reversal Signals After Cataclysmic Drop

Daily Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here

The four hour chart reveals a similar narrative to the daily with a void of reversal candlesticks suggesting a strong recovery may prove difficult. However, a Doji formation denotes indecision from traders near the 1.2920 mark. This suggests a corrective bounce over the session ahead should not be precluded.

EUR/USD: Left Wanting For Bullish Reversal Formations

EUR/USD Left Wanting For Reversal Signals After Cataclysmic Drop

4 Hour Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here

By David de Ferranti, Currency Analyst, DailyFX

Follow David on Twitter: @Davidde

To receive David’s analysis directly via email, please sign up here.

Learn how to read candlesticks to help identify trading opportunities with the DailyFX Candlesticks Video Course.

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

DISCLOSURES