Skip to Content
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.

Free Trading Guides
Subscribe
Please try again
Select

Live Webinar Events

0

Economic Calendar Events

0

Notify me about

Live Webinar Events
Economic Calendar Events

H

High

M

Medium

L

Low
More View More
EUR/USD Technical Analysis: March Bottom Threatened

EUR/USD Technical Analysis: March Bottom Threatened

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

Talking Points:

  • EUR/USD Technical Strategy: Flat
  • Support: 1.0456, 1.0386, 1.0229
  • Resistance:1.0640, 1.0868, 1.1040

The Euro continues to push lower against the US Dollar, with prices on pace to retest monthly lows below the 1.05 figure. A daily close below the 1.0456-1.0513 area (March 16 low, 50% Fibonacci expansion) exposes the 61.8% level at 1.0386. Alternatively, a move back above the 38.2% expansion at 1.0640 opens the door for a challenge of the 38.2% Fib retracement at 1.0868.

The available trading range is too narrow to justify entering a trade in line with our long-term outlook from a risk/reward perspective. With that in mind, we will remain flat for now, waiting for price action to offer a more compelling opportunity down the road.

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

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