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
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
Mixed
USD/JPY
Mixed
Gold
Mixed
Oil - US Crude
Bearish
Bitcoin
Bearish
More View more
Real Time News
  • Rally stopped nearby its target.. Read more in yesterday's article (four hour Chart) https://t.co/4JNCMBy0mm
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.94%, while traders in US 500 are at opposite extremes with 79.62%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/QHkvLf3oJW
  • Heads Up:🇺🇸 USD MBA Mortgage Applications (NOV 15) due at 12:00 GMT (15min), Actual: N/A Expected: N/A Previous: 9.6% https://www.dailyfx.com/economic-calendar#2019-11-20
  • Commodities Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Gold: 0.30% Oil - US Crude: 0.29% Silver: 0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/y1BGP7lpSl
  • Black Friday is still a subject for #stock market scrutiny. Which retailers look set to benefit? What can we learn from the price action of past years? Find out: https://t.co/BBKZzw4tGa https://t.co/L4dt016OrZ
  • Forex Update: As of 11:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.09% 🇨🇭CHF: -0.15% 🇪🇺EUR: -0.15% 🇳🇿NZD: -0.20% 🇦🇺AUD: -0.25% 🇨🇦CAD: -0.35% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/tMMxHanUKU
  • Indices Update: As of 11:00, these are your best and worst performers based on the London trading schedule: US 500: -0.38% Wall Street: -0.42% France 40: -0.63% Germany 30: -0.88% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/RUZf4o7vRW
  • GBP/USD Develops a Bullish Rectangle – British Pound vs USD Price Forecast More details in the link below: https://www.dailyfx.com/forex/technical/home/analysis/gbp-usd/2019/11/20/GBPUSD-Develops-a-Bullish-Rectangle-British-Pound-vs-USD-Price-Forecast-MK.html?CHID=9&QPID=917714 https://t.co/EaZHvdAn6y
  • RT @iv_technicals: Gentle reminder: Nov $VIX futures roll off today; Dec goes in front, currently trading 15.50
  • LIVE NOW! Currency Strategist @PaulRobinsonFX discusses important technical developments relevant to short to intermediate-term commodity and equity index traders here - https://www.dailyfx.com/webinars/816147795?CHID=9&QPID=917720
EUR/USD Technical Analysis: Near-Term Down Trend at Risk

EUR/USD Technical Analysis: Near-Term Down Trend at Risk

2016-04-29 10:07:00
Ilya Spivak, Sr. Currency Strategist
Share:

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

Talking Points:

  • EUR/USD Technical Strategy: Flat
  • Euro gains for fifth straight day, aims to break down trend from mid-April
  • Gains seen as corrective within the context of a long-term structural decline

The Euro is poised to break the near-term down trend established from mid-April highs as prices work to secure a fifth consecutive daily gain. The structural long-term trend remains points downward however, painting further gains from here as ultimately corrective.

A daily close above the 14.6% Fibonacci expansion at 1.1353 opens the door for a test of the 23.6% level at 1.1439. Alternatively, a move below the April 25 low at 1.1215 clears the way for a challenge of the 38.2% Fib retracement at 1.1103.

We sold EUR/USD at 1.1390 and subsequently booked profit on half of the position. The remainder of the trade has now stopped out at breakeven. We will move to the sidelines for the time being, waiting for a new selling opportunity in line with the long-term down trend to present itself.

What do FXCM traders’ bets on the Euro say about where it’s going? Find out here!

EUR/USD Technical Analysis: Near-Term Down Trend at Risk

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

DISCLOSURES

News & Analysis at your fingertips.