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
Mixed
Wall Street
Bearish
Gold
Bullish
GBP/USD
Bullish
USD/JPY
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
More View more
Real Time News
  • 🇨🇳 House Price Index YoY (APR) Actual: 4.8% Previous: 4.6% https://www.dailyfx.com/economic-calendar#2021-05-17
  • Heads Up:🇨🇳 House Price Index YoY (APR) due at 01:30 GMT (15min) Previous: 4.6% https://www.dailyfx.com/economic-calendar#2021-05-17
  • Wall Street stocks closed broadly higher, setting a positive tone for Asia-Pacific markets at the weekly open. April retail sales growth fell short of expectations, cooling fears about tapering Fed stimulus. https://www.dailyfx.com/forex/market_alert/2021/05/17/Dow-Jones-Hang-Seng-ASX-200-Outlook-Tech-Rebound-Bolsters-Risk-Appetite.html https://t.co/nPgJAQVSzh
  • *Reminder: Weekly Strategy Webinar tomorrow morning at 8:30AM EST (12:30 GMT) on DailyFX!! - https://t.co/lxd5fZnn4H
  • 🇯🇵 PPI YoY (APR) Actual: 3.6% Expected: 3.1% Previous: 1.2% https://www.dailyfx.com/economic-calendar#2021-05-16
  • 🇯🇵 PPI MoM (APR) Actual: 0.7% Expected: 0.5% Previous: 0.6% https://www.dailyfx.com/economic-calendar#2021-05-16
  • 🇯🇵 PPI YoY (APR) Actual: 3.6% Expected: 3.1% Previous: 1% https://www.dailyfx.com/economic-calendar#2021-05-16
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here: https://t.co/e4CnobJCss https://t.co/Yo3MIcZ40C
  • 8 out of 9 Dow Jones sectors ended higher, with 83.3% of the index’s constituents closing in the green. Energy (+2.62%), materials (+2.57%) and financials (+2.20%) were among the best performers, while communication services (-2.01%) trailed behind. https://t.co/N92M1qPfCX
  • RT @Fxhedgers: MUSK DOESN’T DENY THAT TESLA SOLD ALL THEIR BITCOIN HOLDINGS - TWEET
EUR/USD Technical Analysis: Looking to Sell on Bounce

EUR/USD Technical Analysis: Looking to Sell on Bounce

Ilya Spivak, Head Strategist, APAC

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

  • EUR/USD Technical Strategy: Pending Short at 1.2710
  • Support: 1.2500, 1.2316, 1.2140
  • Resistance:1.2749, 1.2852, 1.3070

The Euro looks to be resuming the down trend against the US Dollar after correcting upward from the 1.25 figure. Near-term support is in the 1.2500-34 area, marked by the October 3 low and the 23.6% Fibonacci expansion, with a break below that on a daily closing basis exposing the 38.2% level at 1.2316. Alternatively, a reversal above channel support-turned-resistance at 1.2749 opens the door for a test of the 23.6% Fib retracement at 1.2852.

Risk/reward conditions are skewed against entering short at present and we will set a pending order to sell the pair in line with our long-term fundamental outlook at 1.2710. If triggered, the position will initially target 1.2534 with a stop-loss activated on a daily close above 1.2886.

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

EUR/USD Technical Analysis: Looking to Sell on Bounce

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