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
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
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
Wall Street
Mixed
Gold
Bullish
GBP/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
USD/JPY
Bearish
More View more
Real Time News
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Silver: 0.29% Gold: -0.07% Oil - US Crude: -0.85% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/CemB9MpLTu
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.13% 🇨🇭CHF: 0.02% 🇪🇺EUR: 0.01% 🇬🇧GBP: -0.05% 🇦🇺AUD: -0.11% 🇨🇦CAD: -0.21% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/rfoHtxgTeH
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in NZD/USD are at opposite extremes with 68.61%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/jWkTYXNRgO
  • Lots of favorable conditions support Chinese economy December consumption affected by sporadic virus cases - NBS via BBG $USDCNH
  • Chinese economy able to continue stable recovery in 2021 - NBS via BBG $USDCNH
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here: https://t.co/Xr3xtoFpZy https://t.co/xLQueGVHcD
  • Australian Dollar Unimpressed by Chinese Q4 GDP as Retail Sales Lag - https://www.dailyfx.com/forex/market_alert/2021/01/18/Australian-Dollar-Unimpressed-by-Chinese-Q4-GDP-as-Retail-Sales-Lag.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $AUD $AUDUSD https://t.co/PnlWTy0WGv
  • 🇨🇳 Unemployment Rate (DEC) Actual: 5.2% Previous: 5.2% https://www.dailyfx.com/economic-calendar#2021-01-18
  • 🇨🇳 Retail Sales YoY (DEC) Actual: 4.6% Expected: 5.5% Previous: 5% https://www.dailyfx.com/economic-calendar#2021-01-18
  • 🇨🇳 Industrial Production YoY (DEC) Actual: 7.3% Expected: 6.9% Previous: 7% https://www.dailyfx.com/economic-calendar#2021-01-18
Forex: EUR/USD Technical Analysis – Critical Channel Floor Tested

Forex: EUR/USD Technical Analysis – Critical Channel Floor Tested

2014-03-26 00:30:00
Ilya Spivak, Head Strategist, APAC

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

Talking Points:

  • EUR/USD Technical Strategy: Pending Short
  • Support: 1.3779-81 (38.2% Fib ret., channel floor), 1.3721 (50% Fib ret.)
  • Resistance: 1.3850 (23.6% Fib ret.), 1.3876 (trend line)

An actionable short Euro trade setupin line with our long-term fundamental outlook remains elusive after an expected move lower the US Dollar. The spotlight is on support in the 1.3779-1.38 area, marked by the 38.2% Fibonacci retracement and a rising channel bottom set from late January. We will look for a daily close below this boundary to confirm reversal and position for selling opportunities. The break lower would initially expose the 50% level at 1.3721. Alternatively, a breach above the 23.6% Fib at 1.3850 would target recently broken rising trend line support-turned-resistance at 1.3876.

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

dailyclassics_eur-usd_body_Picture_12.png, Forex: EUR/USD Technical Analysis – Critical Channel Floor Tested

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