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
Oil - US Crude
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
More View more
EURUSD 13115 Considered a High Risk Level for Bulls

EURUSD 13115 Considered a High Risk Level for Bulls

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_eur-usd_body_eurusd.png, EURUSD 13115 Considered a High Risk Level for Bulls

Prepared by Jamie Saettele, CMT

I wrote yesterday regarding the EURUSD that “the narrow range of the last 2 days following the strong reaction at 12800 is suggestive of consolidation before a move towards the 61.8% retracement of the decline from 13172 and 9/21 high at 13030/47. 13115 and the high at 13172 are also in play of course. I’ll be looking for signs of failure near the top of the range, especially if on a post ECB or Fed minutes reaction. In summary, I am bullish now and will probably turn bearish tomorrow.” 13030 has been reached and although the rally may be stretched on an intraday basis, there is little (if any) reason to turn bearish right now. The rally has been steady, rather than in ‘news spike’ fashion, which is typically more sustainable. 12970/95 is near term support and a drop below 12900 is needed in order to suggest something bearish. Until then, look higher towards 13115 and the high.

LEVELS: 12936 12966 12995 13047 13115 13172

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