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.

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
Bullish
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
Mixed
GBP/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
USD/JPY
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
  • 🇫🇷 Inflation Rate YoY Prel (FEB) Actual: 0.4% Expected: 0.3% Previous: 0.6% https://www.dailyfx.com/economic-calendar#2021-02-26
  • Heads Up:🇨🇭 GDP Growth Rate YoY (Q4) due at 08:00 GMT (15min) Expected: -2.1% Previous: -1.6% https://www.dailyfx.com/economic-calendar#2021-02-26
  • Heads Up:🇭🇺 Unemployment Rate (JAN) due at 08:00 GMT (15min) Previous: 4.2% https://www.dailyfx.com/economic-calendar#2021-02-26
  • Heads Up:🇪🇺 European Council Meeting due at 08:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-02-26
  • Euro Price Forecast: EUR/USD at Risk of Reversal with US PCE Data on Tap - https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2021/02/26/Euro-Price-Forecast-EURUSD-at-Risk-of-Reversal-with-US-PCE-Data-on-Tap.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $EUR $EURUSD $USD https://t.co/yWVMPYbKuE
  • Heads Up:🇫🇷 Inflation Rate YoY Prel (FEB) due at 07:45 GMT (15min) Expected: 0.3% Previous: 0.6% https://www.dailyfx.com/economic-calendar#2021-02-26
  • Want to make trading decisions with confidence? Download you free guide to avoid hesitations in your trading decisions.https://t.co/00I3lH90OD #DailyFXGuides https://t.co/IbrlAH7b4T
  • ECB's Lane says if market optimism moves ahead of economy, the ECB has more ammo if there is another shock $EUR
  • (ASEAN Tech) US Dollar Breakouts Seek Follow-Through: USD/SGD, USD/PHP, USD/THB, USD/IDR #USD $USDSGD $USDPHP $USDTHB $USDIDR https://www.dailyfx.com/forex/technical/article/special_report/2021/02/26/US-Dollar-Breakouts-Seek-Follow-Through-USDSGD-USDPHP-USDTHB-USDIDR.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/6kqns9pciM
  • Heads Up:🇬🇧 Nationwide Housing Prices YoY (FEB) due at 07:00 GMT (15min) Previous: 6.4% https://www.dailyfx.com/economic-calendar#2021-02-26
EUR/USD Technical Analysis: Testing 4-Month Trend Floor

EUR/USD Technical Analysis: Testing 4-Month Trend 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: 1.3248, 1.3190-204, 1.3151
  • Resistance:1.3291, 1.3345, 1.3432

The Euro is testing the lower bound of its nearly four-month long downswing against the US Dollar after touching the lowest level since September 2013. Near-term support is in the 1.3177-1.3204 area, marked by the 61.8% Fibonacci expansion and a falling channel floor, with a daily close below that exposing the 76.4% level at 1.3151. Alternatively, a turn above the 50% Fib at 1.3248 clears the way for a challenge of the 38.2% expansion at 1.3291.

We entered short EURUSD at 1.3644 in line with our long-term fundamental outlook and have since booked profit on half of the position. The rest is open to capture further weakness with a stop-loss at breakeven.

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

EUR/USD Technical Analysis: Testing 4-Month Trend 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