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
Wall Street
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
More View more
Real Time News
  • Join @MBForex at 8:30 EST/12:30 GMT for his weekly scalping webinar. Register here: https://t.co/VGr4ZK3QZ9 https://t.co/9HSDsVWigv
  • Heads Up:🇧🇷 BCB Focus Market Readout due at 11:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-09-20
  • - It is the end date which signals that the conditions for an increase in policy rates are getting closer, the precise sequencing and timing will, of course, require careful guidance when the time has come $EUR
  • ECB's Schnabel - As the inflation outlook brightens, it becomes less important how much a central bank buys or when a reduction in pace of net asset purchases states, but rather when such purchases end $EUR
  • Join @CVecchioFX at 7:30 EST/11:30 GMT for a webinar on developing a strategy for major event risk. Register here: https://t.co/D8DAmLpkuS https://t.co/mIuN0EGhBY
  • When it comes to buying and selling forex, traders have unique styles and approaches. Learn about buying and selling forex here: https://t.co/D8DXSAdpqC https://t.co/odzyc8Qi8Y
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/eaA8ZI6DVu
  • Chinese property development company Sinic Holdings (2103) - Down 87%...@DailyFXTeam #contagion #Evergrande https://t.co/h5mfwqGASZ
  • 🇪🇸 Balance of Trade (JUL) Actual: €-1.60B Previous: €-0.98B https://www.dailyfx.com/economic-calendar#2021-09-20
  • Heads Up:🇪🇸 Balance of Trade (JUL) due at 08:00 GMT (15min) Previous: €-0.98B https://www.dailyfx.com/economic-calendar#2021-09-20
EUR/USD Technical Analysis: Adding to Short on Rebound

EUR/USD Technical Analysis: Adding to Short on Rebound

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: 1.3345, 1.3291, 1.3248
  • Resistance:1.3419, 1.3472-90, 1.3516

The Euro may be readying to correct higher against the US Dollar after an Evening Star candlestick pattern marked a reversal downward, as expected. The case for an upside scenario hinges on the appearance of a Hammer candle coupled with positive RSI divergence. A daily close above the 23.6% Fibonacci retracement at 1.3419 exposes the 38.2% level at 1.3472, followed by a falling channel top at 1.3490. Alternatively, a turn below the 23.6% Fib expansion at 1.3345 opens the door for a test of the 38.2% threshold at 1.3291.

We sold EURUSD at 1.3644 in line with our long-term fundamental outlook and have since booked profit on half of the position. Any on-coming upswing will be treated as an opportunity to add to the position.

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

EUR/USD Technical Analysis: Adding to Short on Rebound

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