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
Wall Street
Bearish
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
More View more
Real Time News
  • $ES from resistance to support now at the weekly low, testing a few different support elements here, also a 618 $SPX https://t.co/cchd5Rr92S https://t.co/G9jwiIlEjY
  • The $SPX is going to keep it interesting for us through this final trading session. The 50-day SMA is under strain, its 'quad witching' today, evergreen uncertainty over weekend and FOMC on the threat radar https://t.co/gLgVn8u6HJ
  • The S&P 500 and its counterparts are leaning into support as the end of the week nears. DailyFX's @JohnKicklighter discusses the possibility of a break before next week's FOMC and Evergrande deadline! https://t.co/R5Pr9k2xp8
  • You're Not The Only One Bored Of 'New' Apple iPhones https://t.co/T3ZXZ8wplw via @IBDinvestors
  • $USDCAD big test, right at the Sept. high https://t.co/D9baX3BGXf https://t.co/Sg2ySGIIY8
  • just about an hour later $USDCAD https://t.co/D9baX3BGXf https://t.co/B0c71AkZTl
  • Hedging Evergrande (3333 HK) is reportedly a near impossible task
  • Given there is a substantial risk from China's Evergrande situation with a possible technical default at the start of next week, I'll be watching Bitcoin as a 'risk' measure over the weekend. Here versus SPX as Shanghai Comp is 'tended to' https://t.co/OoudsWHFPy
  • The latest batch of US economic data suggests the economy is weathering delta variant concerns, increasing odds for a Fed taper announcement shortly. Get your market update from @CVecchioFX here:https://t.co/aioT8UU4IJ https://t.co/BhMSqkkV0E
  • $USD support hold at higher low $DXY now breakout after U of Mich Focus now shifts to the Fed for next week's rate decision. Quarterly meeting, so also getting an updated dot plot matrix and SEP https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2021/09/17/USD-price-action-us-dollar-rallies-to-sept-high-focus-shifts-to-the-Fed.html https://t.co/oJdrBqBkfp https://t.co/EsSn4XEB1g
EUR/USD Technical Analysis: Post-ECB Rally Stalls Near 1.12

EUR/USD Technical Analysis: Post-ECB Rally Stalls Near 1.12

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 stalls near 1.12 figure vs. US Dollar following post-ECB surge
  • Looking for actionable short trade setup in line with long-term trend

The Euro has settled into digestion mode near the 1.12 figure against the US Dollar having soared to the highest level in a month last week. The move followed the ECB monetary policy announcement, where the central bank delivered an aggressive stimulus boost but hinted negative deposit rates had reached a floor.

Near-term support is at 1.1094, the 23.6% Fibonacci expansion, with a break below that on a daily closing basis opening the door for a test of the 38.2% level at 1.0919. Alternatively, a push above the 14.6% Fib at 1.1202 paves the way for a challenge of the February 11 high at 1.1376.

Our 2016 fundamental outlook calls for continuation of the long-term EUR/USD down trend. However, current positioning does not offer an attractive trade setup and the available trading range is too narrow to justify initiating exposure from a risk/reward perspective. With that in mind, we will remain flat for now.

Are you following FXCM traders’ positioning on EUR/USD? Find out here!

EUR/USD Technical Analysis: Post-ECB Rally Stalls Near 1.12

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

DISCLOSURES