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
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
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
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 0.05% Oil - US Crude: -0.07% Gold: -0.85% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/NMZV03P1DY
  • A close below the low end of the aforementioned trading zone reflects a stronger bearish momentum and may send USDCAD towards 1.3511. Get your $USDCAD technical analysis from @malkudsi here: https://t.co/NnyNajRjE9 https://t.co/q1rU9eSVe3
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.52%, while traders in US 500 are at opposite extremes with 74.73%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/2zuDQFrljo
  • Fed Discount-Rate Meeting Minutes: - Directors reported noteworthy declines to economic activity, particularly in retail, tourism, and travel industries - Several directors expect jobless rate to increase further in coming months $DXY $SPX
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Wall Street: 1.48% US 500: 0.58% FTSE 100: 0.16% Germany 30: -0.05% France 40: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/qJvZxDmmST
  • Dow Jones Index strength continues in afternoon trading, as recovery hopes spur risk appetite $DJI https://t.co/4M6CoMdyGn
  • $USDCAD dives to lowest level since March 15 on USD weakness https://t.co/8abAuksdMo
  • #Equities: US futures on the front-foot with market participants returning from their elongated break, which in turn sees the S&P 500 pierce the psychological 3000. Get your #equities market update from @JMcQueenFX here: https://t.co/7O447VkToZ https://t.co/TyXEaPVnbb
  • LIVE NOW: Join @JStanleyFX as he runs through price action set-ups for the FX and CFDs market. https://www.dailyfx.com/webinars/1338844901231735299
  • it's time for the webinar, starting right now https://www.dailyfx.com/webinars/1338844901231735299 https://t.co/gLQFjotDmG
EUR/USD Technical Analysis: Searching for Follow-Through

EUR/USD Technical Analysis: Searching for Follow-Through

2015-09-25 03:05:00
Ilya Spivak, Head Strategist, APAC
Share:

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

Talking Points:

  • EUR/USD Technical Strategy: 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!

EUR/USD Technical Analysis: Searching for Follow-Through

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

DISCLOSURES

News & Analysis at your fingertips.