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
  • Goldman Sachs sees the Turkish Central Bank cutting rates by 100bps over next three central bank meetings
  • Cable has undergone a nice rally as of late, with it having risen over four figures off the September low.Get your $GBPUSD market update from @PaulRobinsonFX here:https://t.co/jdNzvlgecz https://t.co/kF4pZgwiOz
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.35% 🇨🇭CHF: 0.10% 🇪🇺EUR: -0.04% 🇬🇧GBP: -0.04% 🇦🇺AUD: -0.18% 🇳🇿NZD: -0.29% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/SSMahbp5s0
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: US 500: 0.01% Germany 30: -0.19% Wall Street: -0.21% France 40: -0.23% FTSE 100: -0.32% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/8116UpQzpE
  • Yen Pullback Begins: EUR/JPY, GBP/JPY, AUD/JPY, CAD/JPY https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2021/10/21/Yen-pullback-begins-EUR-JPY-EURJPY-GBP-JPY-GBPJPY-AUD-JPY-AUDJPY-CAD-JPY-CADJPY.html https://t.co/iZpZvFopiF
  • The oil price breakout has extended into the first level of lateral resistance- risk for some ‘back and fill’ here but the outlook remains constructive. Get your market update from @MBForex here:https://t.co/jdNzvkYCNZ https://t.co/OlqgYQLcxK
  • Tesla opened lower as afterhours trade yesterday suggested we would, but after the gap down, we've had a strong rally this morning. I wonder if the Robinhood-type crowd trades before/after hours or if that is the traditional segment https://t.co/tFVllKbBKb
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Gold: -0.02% Silver: -0.40% Oil - US Crude: -1.21% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/ek6GdiGhQ3
  • The Turkish Central Bank cut its weekly repo rate to 16%, marking a 200bps cut vs expectations for a 50-100bps reduction. Get your market update from @JMcQueenFX here: https://t.co/Gz3yZYqZdn https://t.co/C1PgJsCoGp
  • 🇺🇸 CB Leading Index MoM (SEP) Actual: 0.2% Expected: 0.4% Previous: 0.8% https://www.dailyfx.com/economic-calendar#2021-10-21
EUR/USD Technical Analysis: Still Searching for Direction

EUR/USD Technical Analysis: Still Searching for Direction

Ilya Spivak, Head Strategist, APAC

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

Talking Points:

  • EUR/USD Technical Strategy: Flat
  • Support: 1.1276, 1.1185, 1.0970
  • Resistance:1.1533, 1.1659, 1.1832

The Euro remains in digestion mode after bottoming as expected against the US Dollar following the appearance of a bullish Morning Star candle pattern. A daily close above the February 3 high at 1.1533 exposes the 38.2% Fibonacci retracement at 1.1659. Alternatively, a reversal below the 1.1276-1318 area (January 30 close, 14.6% Fib expansion) opens the door for a challenge of the 23.6% threshold at 1.1185.

We expect any on-coming EURUSD strength to be corrective, in line with our long-term outlook. With that in mind, we will treat upside momentum as an opportunity to enter short at a more attractive level and remain on the sidelines in the interim.

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

EUR/USD Technical Analysis: Still Searching for Direction

Daily Chart - Created Using FXCM Marketscope

--- 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