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
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
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • 🇳🇿 Inflation Rate QoQ (Q3) Actual: 0.7% Expected: 0.9% Previous: -0.5% https://www.dailyfx.com/economic-calendar#2020-10-22
  • 🇳🇿 Inflation Rate YoY (Q3) Actual: 1.4% Expected: 1.7% Previous: 1.5% https://www.dailyfx.com/economic-calendar#2020-10-22
  • Heads Up:🇺🇸 Fed Kaplan Speech due at 22:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-10-22
  • Heads Up:🇦🇺 Markit Services PMI Flash (OCT) due at 22:00 GMT (15min) Previous: 50.8 https://www.dailyfx.com/economic-calendar#2020-10-22
  • Heads Up:🇦🇺 Markit Manufacturing PMI Flash (OCT) due at 22:00 GMT (15min) Previous: 55.4 https://www.dailyfx.com/economic-calendar#2020-10-22
  • Heads Up:🇳🇿 Inflation Rate QoQ (Q3) due at 21:45 GMT (15min) Expected: 0.9% Previous: -0.5% https://www.dailyfx.com/economic-calendar#2020-10-22
  • Heads Up:🇳🇿 Inflation Rate YoY (Q3) due at 21:45 GMT (15min) Expected: 1.7% Previous: 1.5% https://www.dailyfx.com/economic-calendar#2020-10-22
  • White House Chief of Staff Mark Meadows says Speaker Nancy Pelosi is ready to do a stimulus deal -BBG $SPX $DJI $NDX $USD $XAU
  • Relatively quiet Canadian economic calendar through the end of October will leave CAD-crosses particularly exposed to broader risk trends, especially those in stocks and oil markets. Get your $USDCAD market update from @CVecchioFX here:https://t.co/kpUQTaO6rm https://t.co/tcmSJh9B8d
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.32% 🇨🇦CAD: 0.05% 🇦🇺AUD: -0.00% 🇯🇵JPY: -0.28% 🇪🇺EUR: -0.34% 🇬🇧GBP: -0.50% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/XWscJjWQHq
EUR/GBP Technical Analysis: French Election Gap Closed

EUR/GBP Technical Analysis: French Election Gap Closed

2017-05-04 09:54:00
Ilya Spivak, Head Strategist, APAC
Share:

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

Talking Points:

  • EUR/GBP Technical Strategy: Short at 0.8497
  • Euro drops to close French election gap vs. British Pound
  • Overall setup continues to hint a major top may be in place

The Euro is waiting to make it next move after declining to close the price gap against the British Pound created by the first round of the French presidential election. Longer-term positioning continues to suggest that a large Head and Shoulders top may be in place.

A daily close below the February 22 low at 0.8403 opens the door for a test of the 0.8334-50 area (triple bottom, 38.2% Fibonacci expansion). Alternatively, a reversal back above the 14.6% level at 0.8462 sees the next upside barrier at 0.8531, the April 26 high.

A short EUR/GBP position was activated at 0.8497, initially targeting 0.8403. A stop-loss will be triggered on a daily close above 0.8480. Profit on half of open exposure will be booked and the stop moved to the breakeven level when the first objective is reached.

What makes EUR/GBP one of the top DailyFX trades for 2017? See our forecast and find out!

EUR/GBP Technical Analysis: French Election Gap Closed

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

DISCLOSURES