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.

Free Trading Guides
EUR/USD
Bullish
GBP/USD
Bullish
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
USD/JPY
Mixed
Gold
Bullish
Oil - US Crude
Bearish
Bitcoin
Bearish
More View more
Real Time News
  • Join our analysts for live, interactive coverage of all major market-moving economic data at the DailyFX Webinars. https://www.dailyfx.com/webinars?re-author=Cottle?utm_source=Twitter&utm_medium=Cottle&utm_campaign=twr
  • Have you been catching on your @DailyFX #podcast "Global Markets Decoded"? Catch up on them now, before new episodes release! https://t.co/mk1w1DM2Rh https://t.co/qjEHpxk8LC
  • CHF Switzerland Oct Exports MM: Actual: -1.3% Previous 2.7% Imports Actual: -2.4% Previous: -1.3%
  • Missed the Cross-Market Weekly Outlook webinar? See the recording here - https://t.co/3V2u4dXQRW Topics included: - UK general election, #Brexit - #RBA and #FOMC policy meeting minutes - US-China #trade war outlook - #OECD economic forecasts
  • How can you use PPI in #forex trading? Find out: https://t.co/TZEdU2SdaS #tradingstyle https://t.co/56Yeqg55OO
  • European Opening Calls from IG #FTSE 7321 +0.18% #DAX 13227 +0.15% #CAC 5939 +0.15% #AEX 599 +0.13% #MIB 23508 +0.19% #IBEX 9270 +0.13% #STOXX 3710 +0.14%
  • NZD/USD Technical Analysis: Trend Aims Lower Amid Congestion - https://www.dailyfx.com/forex/technical/home/analysis/nzd-usd/2019/11/19/NZDUSD-Technical-Analysis-Trend-Aims-Lower-Amid-Congestion.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #NZDUSD #technicalanalysis
  • - #Gold prices may rise if the ECB and FOMC meeting minutes incite rate-cut expectations - #SwedishKrona, #NorwegianKrone may also rise if dovish bets boost appeal of riskier FX - NOK, SEK may retreat on OECD publication, trade war risks, Sweden report https://www.dailyfx.com/forex/fundamental/article/special_report/2019/11/19/Gold-Prices-SEK-NOK-May-Rise-on-ECB-FOMC-Minutes.html
  • As promised, here is a link to my previous webinar where I outlined how leveraged debt could exacerbate a downturn - https://t.co/gfjnm1bPBo
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.65%, while traders in France 40 are at opposite extremes with 84.85%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/jG45w8zAEK
Euro Support Holding for Now

Euro Support Holding for Now

2011-05-10 15:06:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Daily Bars

eliottWaves_eur-usd_body_eurusd.png, Euro Support Holding for Now

Prepared by Jamie Saettele, CMT

I wrote yesterday about “the disparity index – a measure of the distance between the closing price and the 200 day moving average on a percentage basis. Major tops since 2008 have occurred just above 9% (price exceeding its 200 day MA by 9%). Like all momentum indicators, the disparity index tends to display divergence at its final top. Without divergence present, I am wary of calling this the final top. What’s more, the 100% extension at 15279 intersects with channel resistance in mid June. The November 2010 top at 14280 is support but 14150 is a near term objective. This level is defined by the 4/18 low and 100% extension of the 14940-14509 decline.” Little has changed since yesterday other than the doji closing. Any bounce from would see resistance at 14500 and 14678 (61.8%) but the inability of the EURUSD to bounce in the face of a snapback in the metals, crude, and stocks suggests that this market is weak. Additional weakness targets 14150.

Support/Resistance Index (M,W,D) – (2), (2), (1)

Latest Video

Monthly Forecast

Weekly Forecast

Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Monday), technical analysis of currency crosseson Wednesday and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forex Stream. A graduate of Bucknell University, he holds the Chartered Market Technician (CMT) designation from the Market Technician Association. He is the author of Sentiment in the Forex Market.  Send requests to receive his reports via email to jsaettele@dailyfx.com.

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

DISCLOSURES

News & Analysis at your fingertips.