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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View More
EUR/USD Technical Analysis: Searching for Follow-Through

EUR/USD Technical Analysis: Searching for Follow-Through

Ilya Spivak,

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

Talking Points:

  • EUR/USD Technical Strategy: Flat
  • Euro Pausing to Digest Losses After Finding Support Above 1.11 Figure
  • Lackluster Follow-Through, Choppy Ranges Make for Inconclusive Setup

The Euro paused to consolidate having declined as expected after prices put in a bearish Dark Cloud Cover candlestick pattern. The pair has struggled with directional conviction since spiking to a seven-month high in late August. Seemingly noteworthy technical breaks have not found follow-through and sliding ATR readings are pointing to ebbing volatility.

Looking ahead, a break below horizontal shelf support at 1.1113 exposes 1.1016, a barrier marked by a rising trend line in play since March and the August 18 low. Alternatively, a move above the September 24 high at 1.1296 clears the way for a challenge of the September 18 swing top at 1.1459.

Positioning is inconclusive at this point. Prices are oscillating in an increasingly choppy range, offering no actionable trade setups to compel us to take a trade. With that in mind, we will remain on the sidelines and wait for greater clarity to emerge before establishing exposure.

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

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.