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
Mixed
Oil - US Crude
Bearish
Wall Street
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
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.31% 🇨🇦CAD: 0.19% 🇦🇺AUD: 0.18% 🇨🇭CHF: 0.04% 🇪🇺EUR: -0.05% 🇯🇵JPY: -0.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/qsrBgSzbb9
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Germany 30: 2.48% France 40: 1.56% FTSE 100: 1.37% US 500: 1.27% Wall Street: 1.15% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/U88jwizBUy
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.62% Gold: -0.43% Silver: -0.80% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/E0JIHB34kq
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.33%, while traders in US 500 are at opposite extremes with 75.98%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/KPZp80OFL7
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.74% Gold: -0.44% Silver: -0.95% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/fdvrgxmJD4
  • On May 8, Bitcoin surged to a two and a half month-high at $10,071. Get your #Bitcoin technical analysis from @malkudsi here: https://t.co/40pZEa2ARj https://t.co/6fweAKEiP5
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Germany 30: 2.47% France 40: 1.56% FTSE 100: 1.42% US 500: 1.19% Wall Street: 1.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/lusuGg69Py
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.33%, while traders in US 500 are at opposite extremes with 76.39%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/yX00FwBRaN
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.18% 🇨🇦CAD: 0.14% 🇦🇺AUD: 0.07% 🇳🇿NZD: -0.00% 🇨🇭CHF: -0.01% 🇯🇵JPY: -0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/4auhNzVWYV
  • Heads Up:🇧🇷 BCB Focus Market Readout due at 11:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-05-25
EUR/GBP Technical Analysis – Euro Rebound Hinted Ahead

EUR/GBP Technical Analysis – Euro Rebound Hinted Ahead

2014-04-17 23:21:00
Ilya Spivak, Head Strategist, APAC
Share:

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

  • EUR/GBP Technical Strategy: Flat
  • Support: 0.8215-24 (Pitchfork bottom, 50% Fib exp.), 0.8204 (61.8% Fib exp.)
  • Resistance: 0.8244 (38.2% Fib exp.), 0.8269 (23.6% Fib exp.)

A Euro rebound against the British Pound may be in the cards after prices put in an Inverted Hammer candlestick above support in the 0.8215-24 area, marked by an Andrew’s Pitchfork bottom and the 50% Fibonacci expansion. A bounce from here sees initial resistance at 0.8244, the 38.2% level, with a break above that targeting the 23.6% Fib at 0.8269. Alternatively, a push through support exposes the 61.8% expansion at 0.8204.

A Hammer candlestick is indicative of indecision and is not an actionable trade signal in its own right, warning against taking a long position. We will continue to stand aside for now, looking for a more attractive setup to present itself.

Confirm your chart-based trade setups with the Technical Analyzer. New to FX? Start Here!

dailyclassics_eur-chf_body_Picture_11.png, EUR/GBP Technical Analysis – Euro Rebound Hinted Ahead

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

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

DISCLOSURES

News & Analysis at your fingertips.