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
Mixed
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
Bearish
GBP/USD
Bullish
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
Bullish
More View more
Real Time News
  • It seems the markets are riding high, but risk is always lurking around the corner. Consider your escape plan before you find yourself in collapsing market. What are the top havens for different conditions in 2021? Find out from @JohnKicklighter here: https://t.co/1oeXWEsJkb https://t.co/sGNzXICiX4
  • $EURGBP post BoE: https://t.co/LvrBFqfqOm
  • $GBPUSD stabilising after dip on BoE: https://t.co/EwAxuqo8g8
  • So in summary BoE marginally more dovish than expected, and that key word "transitory" is still there. "The Committee’s expectation is that the direct impact of rises in commodity prices on CPI inflation will be transitory."
  • BoE says "CPI inflation is expected to pick up further above the target, owing primarily to developments in energy and other commodity prices, and is likely to exceed 3% for a temporary period."
  • BoE - Staff upwardly revised UK Q2 GDP by 1.5% from May Report BoE - Inflation likely to exceed 3% for a temporary period. GBP/USD falls to day's low of 1.3912 #boe #gbpusd @DailyFXTeam
  • BoE says - bank staff revise up their expectations for UK GDP in Q2 by 1.5% since May report - Inflation likely to exceed 3% for a temporary period
  • Initial reaction in $GBPUSD to Bank of England negative https://t.co/vnngWrp2fk
  • Vote on QE was 8-1, with Haldane dissenting - GBP sold given hawkish expectations heading into the meeting https://t.co/UgjDh0yPwv
  • 🇬🇧 BoE Quantitative Easing Actual: £875B Expected: £875B Previous: £875B https://www.dailyfx.com/economic-calendar#2021-06-24
EUR/USD Technical Analysis – Selloff Pauses Near 1.36 Mark

EUR/USD Technical Analysis – Selloff Pauses Near 1.36 Mark

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, 76.4% Fib ret.)
  • Resistance:1.3643 (50% Fib ret.), 1.3726 (38.2% Fib ret.)

The Euro appears likely to continue lower after prices slumped to the lowest level in almost four months against the US Dollar. Sellers are now aiming to challenge the 61.8% Fibonacci retracement at 1.3561, with daily close below that exposing the 1.3458-76 area marked by the February 3 low and the 76.4% level. Alternatively, a turn above resistance at 1.3643, the 50% Fib clears the way for a test of the 38.2% retracement at 1.3726.

We entered short EURUSD at 1.3654 and subsequently booked profit on half of the position. The rest of the trade remains open to take advantage of any further weakness, in line with our long-term fundamental outlook. The stop-loss is now at the breakeven level.

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

EUR/USD Technical Analysis – Selloff Pauses Near 1.36 Mark

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