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
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
Wall Street
Mixed
Gold
Bearish
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
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Gold: -0.45% Oil - US Crude: -0.63% Silver: -1.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/RvLy6xA9Is
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: -0.06% 🇯🇵JPY: -0.15% 🇬🇧GBP: -0.22% 🇨🇦CAD: -0.32% 🇦🇺AUD: -0.38% 🇪🇺EUR: -0.43% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/MZIiNOFxXu
  • Hey traders! Wrap up your week with a market update from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/DHufbBKbDu
  • Canadian PM Trudeau says Canada purchasing 20 million vaccine doses from Astrazeneca -BBG
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: US 500: 0.26% France 40: 0.03% Wall Street: 0.02% FTSE 100: -0.06% Germany 30: -0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/jByk8LUAt6
  • UK Government Official says either outcome is possible on Brexit
  • UK Government Official says if gaps in fisheries and level playing field are bridged, the EU's more constructive attitude will need to be translated into more realistic positions in the days to come
  • Big headline that says the EU has informed the UK that it must commit to some key demands in next week's trade talks if there is progress before the October deadlines. That said, I don't think this is a particularly new refrain between those two. It's the clock that matters
  • RT @Tams707: #USDZAR tests trendline resistance. Potential breakout in play? https://www.dailyfx.com/forex/market_alert/2020/09/25/South-African-Rand-Price-Forecast-USDZAR-Breakout-Potential-Brewing-LiveEdu-TDC.html
  • $USDZAR set up for next week (or two)... Weekly chart - Falling wedge taking on the tone of a bull flag. Confluent resistance that's held highs on Thurs & Friday. If USD rally continues, if EM remains with a question mark - $USDZAR a pretty interesting . Well done, Tammy https://t.co/Xqr64bnXFH https://t.co/BkY75zHgeg
EUR/USD Downside Risks Remain In Absence of Key Reversal Candlesticks

EUR/USD Downside Risks Remain In Absence of Key Reversal Candlesticks

2014-10-01 06:00:00
David de Ferranti, Currency Analyst
Share:

Talking Points

  • EUR/USD Technical Strategy: Shorts Preferred
  • Vulnerable With Void of Bullish Candles In Sight
  • Close Below 1.2660 To Open Run On 1.2250

EUR/USD has resumed its descent with a lack of reversal candlesticks warning of further weakness for the pair. The crawl beneath the 1.2650 floor may set the stage for an extended decline to the late August 2012 low at 1.2250. Whereas a climb over the 1.2650 hurdle would be required to warn of a base.

EUR/USD: Downside Risks Remain In Absence of Key Reversal Candlesticks

EUR/USD Downside Risks Remain In Absence of Key Reversal Candlesticks

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

A Piercing Line pattern on the four hour chart failed to find follow-through. This suggests the bears remain in control of the Euro and may attempt to push the pair back to intraday buying support at 1.2570.

EUR/USD: Bullish Signal Invalidated In Intraday Trade

EUR/USD Downside Risks Remain In Absence of Key Reversal Candlesticks

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