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
EUR/USD
Bearish
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
Bullish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.45%, while traders in France 40 are at opposite extremes with 73.09%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/fhwDyn1zdX
  • Heads Up:🇮🇹 Balance of Trade (MAR) due at 08:00 GMT (15min) Previous: €4.754B https://www.dailyfx.com/economic-calendar#2021-05-18
  • 🇳🇱 GDP Growth Rate YoY Flash (Q1) Actual: -2.8% Expected: -2.1% Previous: -2.8% https://www.dailyfx.com/economic-calendar#2021-05-18
  • 🇳🇱 GDP Growth Rate QoQ Flash (Q1) Actual: -0.5% Expected: -0.6% Previous: -0.1% https://www.dailyfx.com/economic-calendar#2021-05-18
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Silver: 1.31% Oil - US Crude: 1.10% Gold: 0.14% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/QnlMPh7fum
  • It’s not a seasonally friendly time of the year for the British Pound, a potential headwind among otherwise bullish technical considerations. Get your $GBP market update from @CVecchioFX here:https://t.co/RRVpaXPGaU https://t.co/OTZygUiFzD
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.63% 🇦🇺AUD: 0.54% 🇨🇭CHF: 0.52% 🇬🇧GBP: 0.40% 🇪🇺EUR: 0.36% 🇯🇵JPY: 0.18% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/dwd1ApUwD8
  • Heads Up:🇳🇱 GDP Growth Rate YoY Flash (Q1) due at 07:30 GMT (15min) Previous: -2.8% https://www.dailyfx.com/economic-calendar#2021-05-18
  • Heads Up:🇳🇱 GDP Growth Rate QoQ Flash (Q1) due at 07:30 GMT (15min) Previous: -0.1% https://www.dailyfx.com/economic-calendar#2021-05-18
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.85% Germany 30: 0.68% France 40: 0.62% US 500: 0.43% Wall Street: 0.38% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/fCesZ6q8iR
EUR/USD Technical Analysis – Half of Short Trade Booked

EUR/USD Technical Analysis – Half of Short Trade Booked

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 1.3654
  • Support: 1.3561 (61.8% Fib ret.), 1.3459-76 (Feb 3 low)
  • Resistance:1.3643 (50% Fib ret.), 1.3726 (38.2% Fib ret.)

The Euro looks vulnerable to continued weakness against the US Dollar after prices tumbled to the lowest level in nearly four months. Near-term support is at 1.3561, the 61.8% Fibonacci retracement, with a break below that targeting the 1.3458-76 area marked by the February 3 low and the 76.4% level. Near-term resistance is at 1.3643, the 50% Fib. A reversal back above that targets the 38.2% retracement at 1.3726.

We sold EURUSD at 1.3654 in line with our long-term fundamental outlook. Prices have now met our initial objective at 1.3598 and we have booked profits on half of the position. The remainder of the trade has been left open to capture any further weakness and the stop-loss has been trailed to the breakeven level.

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

EUR/USD Technical Analysis – Half of Short Trade Booked

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