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
  • RT @EricBalchunas: $SPY traded more than the Top 5 stocks combined. Just when you think $SPY is fading away like an aging legend you realiz…
  • Bitcoin sharply lower on the day, but well off session lows around $42,500 $BTCUSD #Bitcoin https://t.co/mPiZMs8eYH
  • You know what index didn't suffer an overtly threatening reversal this past session? The Russell 2000. It didn't continue the same steady climb through 2021 that the Dow, SPX and Nasdaq enjoyed; so not as much excess premium https://t.co/ieHojAC7b5
  • USD/JPY extends the rebound from the weekly low (109.11) as the stronger-than-expected US Retail Sales report fuels speculation for an imminent shift in monetary policy. Get your $USDJPY market update from @DavidJSong here:https://t.co/Rozq62yAou https://t.co/toaAHiCavK
  • S&P 500 Sinks on Evergrande Risks Ahead of FOMC, Airline Stocks’ Outlook Brightens #trading $SPX $NDX $DJIA $JETS $AAL $DAL $LUV $UAL https://t.co/tBmej9p6sq
  • There was some serious BTD action in that final hour of New York trade. With the FOMC on Wednesday, the freeze usually associated with anticipating a big event could help curb a deeper slump. If risk aversion continues despite the attention, it would concern me.
  • The S&P 500 staged a late-day rally, but still closed down by roughly 1.7% $SPX $SPY $ES https://t.co/SjbbOUXtiV
  • *FAUCI: GOOD CHANCE OF VACCINE FOR CHILDREN BEFORE END-OCT $SPX $NDX $USD
  • Gold posting decent gains for the session, up just shy of 0.5% as risk-assets broadly decline $XAUUSD #Gold https://t.co/uCYLg6Eqjy
  • USD/CAD spiked to start the week, setting a fresh September high at 1.2986. Get your $USDCAD market update from @JStanleyFX here:https://t.co/mx9lzAtbVS https://t.co/0kYUz6LpOA
EUR/USD Technical Analysis: Breakout Intact After Pullback

EUR/USD Technical Analysis: Breakout Intact After Pullback

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: 1.1047, 1.0955, 1.0899
  • Resistance:1.1121, 1.1195, 1.1287

The Euro corrected modestly lower after an apparent upside breakout marked by a push through falling trend line set from mid-June. A daily close above the 50% Fibonacci retracementat 1.1121 exposes the 61.8% level at 1.1195. Alternatively, a reversal back below the 38.2% Fib at 1.1047 opens the door for a challenge of the 23.6% retracement at 1.0955.

Prices are wedged too closely between near-term support and resistance levels to justify taking a trade in line with our long-term outlook from a risk/reward perspective. With that in mind, we will continue to stand aside until a more attractive opportunity presents itself.

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

EUR/USD Technical Analysis: Breakout Intact After Pullback

--- 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