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.



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
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
Oil - US Crude
Wall Street
More View more
Real Time News
  • Emotions are often a key driving force behind FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here:
  • UK cites new rule allowing MHRA to approve vaccine before EU - BBG
  • UK Government asks drug regulator to evaluate Oxford-AstraZeneca Vaccine - BBG
  • 🇯🇵 Foreign Bond Investment (21/NOV) Actual: ¥1,964.0B Previous: ¥1009.1B
  • Heads Up:🇯🇵 Foreign Bond Investment (21/NOV) due at 23:50 GMT (15min) Previous: ¥1009.1B
  • What are the six major stock types utilized by every trader? Learn here:
  • President Donald Trump: Will give up power if electoral college votes for Biden - BBG
  • President Donald Trump says conceding is going to be a very hard thing to do - BBG
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here:
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.20% 🇨🇭CHF: 0.16% 🇪🇺EUR: -0.01% 🇦🇺AUD: -0.06% 🇨🇦CAD: -0.08% 🇬🇧GBP: -0.23% View the performance of all markets via
EUR/USD Technical Analysis: Euro Drops to Three-Month Low

EUR/USD Technical Analysis: Euro Drops to Three-Month Low

2015-11-05 04:03:00
Ilya Spivak, Head Strategist, APAC

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

Talking Points:

  • EUR/USD Technical Strategy: Flat
  • Euro Resumes Down Move, Issues Lowest Close in Three Months vs. US Dollar
  • Opting to Wait for Improved Risk/Reward Parameters to Re-Enter Short Position

The Euro is back on the defensive against the US Dollar, with prices dropping for a third consecutive day to issue the weakest close in three months. Renewed selling pressure points to continuation of the down move initiated following the formation of a bearish Dark Cloud Cover candlestick pattern, as expected.

Near-term support is in the 1.0818-44 area, marked by a horizontal level established in late May and the 38.2% Fibonacci expansion. A break below that on a daily closing basis sees the next downside barrier at 1.0774, the 50% level. Alternatively, a turn back above the 23.6% Fib at 1.0932 – now acting as resistance – opens the door for a test of the 14.6% expansion at 1.0985.

We are keen to re-enter short after the second half of our short position from 1.1057 was stopped out at breakeven. Risk/reward considerations argue against taking a trade at current levels however as prices sit within a hair of immediate support. We will stand aside for now, waiting for a more compelling setup.

Losing Money Trading Forex? This Might Be Why.

EUR/USD Technical Analysis: Euro Drops to Three-Month Low

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