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
  • Dow hits new record high...boom! $DJI
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Silver: 2.81% Gold: 0.89% Oil - US Crude: 0.58% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/FiM78jjd0z
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.71% 🇦🇺AUD: 0.53% 🇨🇭CHF: 0.35% 🇬🇧GBP: 0.19% 🇪🇺EUR: 0.11% 🇯🇵JPY: 0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/o4Bg5hW0tn
  • #Oil Technical Forecast: Oil Eight-Week Rally Vulnerable- $WTI Levels ($USOil) - https://t.co/32p8cbyZVr https://t.co/PPWB11MbRh
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.45% US 500: 0.40% France 40: 0.01% Germany 30: 0.00% FTSE 100: -0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/brXwszjzBv
  • RT @jason_donner: Pelosi on if a framework can be reached by end of week: “Let’s see…we have met every milestone along the way in our timet…
  • RT @breakingmkts: *PAYPAL SAID TO EXPLORE PURCHASE OF SOCIAL MEDIA FIRM PINTEREST $PYPL $PINS
  • Wondering if $MS will drop its fire and ice scenario at some point or continue to call for a major pullback in stocks? #trading $SPX $DJI $RUT
  • Risk appetite is on the hunt for record highs to start the New York session with Bitcoin hitting the mark at $66,000 and the S&P 500 within easy reach of 4,545. DailyFX's @JohnKickligther discusses what is ahead today! https://t.co/HRDercEcMU
  • $DJIA about to hit its all time high https://t.co/dX26Ib4Bbc
EUR/USD Technical Analysis: Testing Eight-Month Floor

EUR/USD Technical Analysis: Testing Eight-Month 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 1.3644
  • Support: 1.3366, 1.3324, 1.3208
  • Resistance:1.3396, 1.3454, 1.3512

The Euro fell as expected against the US Dollar after prices put in a bearish Evening Star candlestick pattern. Sellers are now eyeing support at 1.3366, the November 8 2013 close. A break below this boundary on a daily closing basis initially exposes the 76.4% Fibonacci expansion at 1.3324. Alternatively, a move back above the 61.8% Fib at 1.3396 opens the door for a test of the 50% expansion at 1.3454.

We sold EURUSD at 1.3644 in line with our long-term fundamental outlook and have since booked profit on half of the position. The stop-loss on our remaining exposure has been moved to the breakeven level.

Add these technical levels directly to your charts with our Support/Resistance Wizard app!

EUR/USD Technical Analysis: Testing Eight-Month Floor

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