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
Real Time News
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.51% 🇦🇺AUD: 0.12% 🇬🇧GBP: 0.06% 🇨🇦CAD: 0.03% 🇨🇭CHF: 0.02% 🇯🇵JPY: -0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Ph5lsHjmZL
  • RT @BrendanFaganFx: AUD/USD Analysis: Aussie Dollar Points Higher After Strong Chinese PMI Data $AUDUSD #Forex #Trading Link: https://t.c…
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.63%, while traders in France 40 are at opposite extremes with 82.74%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/FD0WVipVhk
  • RT @RiskReversal: Check out @GuyAdami and me on this week's @macrosetup brought to you by @IG_US with @DailyFX's @CVecchioFX. We discuss th…
  • Alibaba (9988 HK) plunged 3% after reporting a 5% YoY decline in net profit for Q2.
  • Alibaba (9988 HK) plunged 3% after it reported a 5% decline of YoY net profit for Q2.
  • 🇨🇳 Caixin Composite PMI (JUL) Actual: 53.1 Previous: 50.6 https://www.dailyfx.com/economic-calendar#2021-08-04
  • 🇨🇳 Caixin Services PMI (JUL) Actual: 54.9 Previous: 50.3 https://www.dailyfx.com/economic-calendar#2021-08-04
  • 8 out of 9 Dow Jones sectors ended higher, with 83.3% of the index’s constituents closing in the green. Materials (+1.65%), healthcare (+1.44%) and industrials (+1.26%) were among the best performers, whereas communication services (-1.12%) trailed behind. https://t.co/FuutHW0ITB
  • RT @Yeap_IG: #IGMorningthoughts: - Broad-based strength in US overnight, #VIX fall but higher lows still present - US factory orders contin…
Euro Downside Levels are 12590 and 12455

Euro Downside Levels are 12590 and 12455

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_eur-usd_body_eurusd.png, Euro Downside Levels are 12590 and 12455

Prepared by Jamie Saettele, CMT

Downside levels of interest are the August 2010 low at 12590 and the 100% extension of the decline from the 2011 high at 12455. Watch for support from the line that connects the May 2011 and October 2011 lows as well. 5 waves down from 13076 may be complete which increases the risk of a bounce. Expect resistance at 12845 with an extended bounce running into offers at 12880-12900. Strength into these levels would present a short opportunity against 13076. Read more technical research for trading ideas.

Bottom Line – sell rallies into 12845-12900, stop 13080, target 12450

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

DISCLOSURES