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
  • USD/JPY price action has weakened sharply on the session but is searching for support. Get your $USDJPY market update from @RichDvorakFX here:https://t.co/s6baPFYuS3 https://t.co/1ze3cKJytb
  • RT @BrendanFaganFx: Nasdaq 100 Outlook: Stocks Decline Despite Stellar Tech Earnings, All Eyes Shift to Fed $AAPL $MSFT $GOOG $QQQ $NDX L…
  • $SPX put in for an impressive midday recovery this past session leaving a large lower wick. The scale of the lower wicks consistently larger than corrections off highs https://t.co/BGkiFUwYsk
  • 🇰🇷 Consumer Confidence (JUL) Actual: 103.2 Previous: 110.3 https://www.dailyfx.com/economic-calendar#2021-07-27
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.53% 🇬🇧GBP: 0.44% 🇨🇭CHF: 0.13% 🇦🇺AUD: -0.32% 🇨🇦CAD: -0.46% 🇳🇿NZD: -0.60% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/foLJDv5tkA
  • US API Stock Changes Crude -4.728M Cushing -0.126M Gasoline -6.226M Distillate -1.882M #OOTT $CL_F
  • RT @Nadex: The Macro Setup is back! Tune in as @GuyAdami, @RiskReversal, and special guest @CVecchioFX discuss: -Stocks lower ahead of big…
  • Heads Up:🇰🇷 Consumer Confidence (JUL) due at 21:00 GMT (15min) Previous: 110.3 https://www.dailyfx.com/economic-calendar#2021-07-27
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.32% Gold: 0.11% Silver: -1.89% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/DKG9ZdR1SB
  • Apple Q3 Earnings Summary: Revenues: $81.43 B vs. $73.30 B est. EPS: $1.30 vs. $1.01 est. $AAPL
Forex: EUR/USD Technical Analysis – Selloff Stalls at Channel Floor

Forex: EUR/USD Technical Analysis – Selloff Stalls at Channel Floor

Ilya Spivak, Head Strategist, APAC

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

Talking Points:

  • EUR/USD Technical Strategy: Short at 1.3757
  • Support: 1.3476 (Feb 3 low)
  • Resistance: 1.3574 (23.6% Fib ret.), 1.3635 (38.2% Fib ret.)

We entered short EUR/USD at 1.3757 as prices formed a Bearish Engulfing candlestick pattern, signaling a move lower in line with our fundamental outlook. The downturn’s latest leg began as expected as the pair produced a Shooting Star candlefollowing a brief upswing. The stop-loss has now been revised to trigger on a daily close above January 24 high at 1.3738.The first long-term objective remains 1.3209.

The bottom of a falling channel set from late December has stepped in as interim support. A rebound from this level that produces a close above 1.3574, the 23.6% Fibonacci retracement, exposes the 38.2% level at 1.3635. Near-term support is now at 1.3476, the February 3 low.

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_eur-usd_body_Picture_11.png, Forex: EUR/USD Technical Analysis – Selloff Stalls at Channel Floor

Daily Chart - Created Using FXCM Marketscope 2.0

New to FX? START HERE!

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

DISCLOSURES