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
Oil - US Crude
Wall Street
More View more
Real Time News
  • Point 3 is not talked about enough. The bureaucratic - dare I say, Leviathan - in most universities is resulting in tuition prices skyrocketing without adding clear value to the students.
  • Think #amzn will gap higher on Monday after Black Friday and the giant move to online shopping?
  • The exponential moving average (EMA) is a derivative of the simple moving average (SMA) indicator. Compared to the SMA, the EMA weighs recent price changes more heavily than later changes in price. Learn how to incorporate the EMA into your strategy here:
  • Traders in the Euro have a big decision to make this weekend: if EUR/USD hits 1.20, will it continue to advance, consolidate or fall back? Get your $EURUSD market update from @MartinSEssex here:
  • The bullish engulfing candle is one of the forex market's most clear-cut price action signals for reversals and continuation. Learn more about this price action trading signal here:
  • The bull flag pattern is a great pattern to add to a forex trader's technical arsenal. Explosive moves are often associated with the bull flag. Learn more about the bull flag pattern here:
  • Defensive stocks have proven critically important when navigating stock market volatility. Find out what are the most defensive stocks here:
  • Dollar Index has broken major uptrend support and risks accelerated losses into the December open. Get your $USD technical analysis from @MBForex here:
  • The MACD is an indicator that uses exponential moving averages (EMA) to determine trend strength along with entry points based on crossovers. Find out how you can use the MACD as a buy/sell signal here:
  • Support and resistance are the cornerstone of technical analysis, making it the foundation that you build your knowledge on. Build a stronger foundation here:
EUR/USD Technical Analysis: Larger Rebound Hinted Ahead

EUR/USD Technical Analysis: Larger Rebound Hinted Ahead

2015-11-20 11:13:00
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 Edging Higher as Expected After Finding Support Above 1.06 Figure vs. US Dollar
  • Looking to Enter Short in Line with Dominant Down Trend Following Corrective Upswing

The Euro moved higher against the US Dollar as expected, with a break above trend line resistance set from mid-October hinting that a larger recovery may be ahead. The dominant long-term down trend continues to favor the downside however, painting any on-coming gains as corrective.

A daily close above the 14.6% Fibonacci retracement at 1.0745 exposes a key barrier in the 1.0818-24 area marked by double bottom support-turned-resistance and reinforced by the 23.6% level. Alternatively, a push below the 23.6% Fib expansion at 1.0637 clears the way for a test of the 38.2% threshold at 1.0517.

We are keen to enter short EUR/USD and take part in continuation of the multi-year decline once again. With that in mind, we will look to any move higher from here as an opportunity to sell the pair once whatever retracement materializes runs out of steam.

Losing Money Trading Forex? This Might Be Why.

EUR/USD Technical Analysis: Larger Rebound Hinted Ahead

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