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.

Free Trading Guides
EUR/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
Oil - US Crude
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
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
Gold
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
GBP/USD
Mixed
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
  • 🇺🇸 Michigan 5 Year Inflation Expectations Final Actual: 2.7% Previous: 2.5% https://www.dailyfx.com/economic-calendar#2020-05-29
  • 🇺🇸 Michigan Inflation Expectations Final Actual: 3.2% Previous: 2.1% https://www.dailyfx.com/economic-calendar#2020-05-29
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.13%, while traders in US 500 are at opposite extremes with 77.99%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/7zuiFgkwj4
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Silver: 2.00% Gold: 0.48% Oil - US Crude: -1.54% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/ICbXM6g3dk
  • Heads Up:🇺🇸 Michigan Inflation Expectations Final due at 14:00 GMT (15min) Previous: 2.1% https://www.dailyfx.com/economic-calendar#2020-05-29
  • Heads Up:🇺🇸 Michigan 5 Year Inflation Expectations Final due at 14:00 GMT (15min) Previous: 2.5% https://www.dailyfx.com/economic-calendar#2020-05-29
  • Heads Up:🇺🇸 Michigan Consumer Sentiment Final due at 14:00 GMT (15min) Expected: 74 Previous: 71.8 https://www.dailyfx.com/economic-calendar#2020-05-29
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: US 500: -0.18% Wall Street: -0.45% France 40: -0.95% Germany 30: -1.19% FTSE 100: -1.55% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/YWyi6VjNe4
  • Fed's Mester says yield curve control is not for this phase of action where Fed is supporting market functioning
  • Fed's Mester sees yield curve control as forward guidance support
EUR/USD Technical Analysis: Bottoming Clues Intact for Now

EUR/USD Technical Analysis: Bottoming Clues Intact for Now

2014-11-13 00:42:00
Ilya Spivak, Head Strategist, APAC
Share:

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

Talking Points:

  • EUR/USD Technical Strategy: Short at 1.2710
  • Support: 1.2352, 1.2299, 1.2234
  • Resistance:1.2482, 1.2559, 1.2621

The Euro may be preparing to launch a recovery against the US Dollar after prices put in a bullish Piercing Line candlestick pattern. A daily close above the 23.6% Fibonacci retracementat 1.2482 exposes the 38.2% level at 1.2559. Alternatively, a reversal below the 50% Fib expansion at 1.2352 opens the door for a test of the 61.8% threshold at 1.2299.

We sold EURUSD at 1.2710 in line with our long-term fundamental outlook subsequently booked profit on half of the position. The remainder of the trade is open to capture any further downside momentum with a stop-loss trailed to breakeven (1.2710).

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

EUR/USD Technical Analysis: Bottoming Clues Intact for Now

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

News & Analysis at your fingertips.