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
More View more
EUR/USD Technical Analysis – Short Trade Entry Sought

EUR/USD Technical Analysis – Short Trade Entry Sought

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: 1.3804 (rising trend line)
  • Resistance: 1.3932 (Mar 18 close), 1.40, 1.4023 (Wedge top)

The Euro tumbled against the US Dollar having tagged the highest level in nearly two months, making a bid to form a double top at 1.3932 (March 18). Rising trend line support comes in at 1.3804, and we will look for a daily close below this barrier as confirmation to begin looking for selling opportunities in line with our long-term fundamental outlook. Alternatively, a reversal back above 1.3932 (once again on a daily closing basis) exposes the psychologically significant 1.40 figure, followed by the top of a large Rising Wedge formation set from October 2013 (now at 1.4023).

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

EUR/USD Technical Analysis – Short Trade Entry Sought

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

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