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.

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
EUR/USD
Mixed
Oil - US Crude
Bullish
Wall Street
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
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.20% 🇳🇿NZD: 0.16% 🇬🇧GBP: 0.11% 🇪🇺EUR: 0.07% 🇯🇵JPY: 0.00% 🇨🇦CAD: -0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/w1pp0s9fSX
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.81%, while traders in Germany 30 are at opposite extremes with 65.02%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/nFlMXsEQor
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/UalZ8cRSXB https://t.co/p7l6voNLTR
  • #DJIA futures eyeing a retest of the February record-high (29595.3) after breaking above Falling Wedge resistance A daily close above the January low (28130.2) could signal the resumption of the primary uptrend extending from the March doldrums $DJI #DowJones #WallStreet https://t.co/DKmECFfpGK https://t.co/IBuArQrIJQ
  • @DailyFXTeam Wall Street Futures Update: Dow Jones (+0.32%) S&P 500 (+0.35%) Nasdaq 100 (+0.37%) [delayed] -BBG
  • #Market Snapshot $AUDUSD and $EURUSD drifting from session-highs as the haven-associated $JPY attempts to claw back lost ground. #SP500 futures, #Gold and #crudeoil all moving higher while the #ASX200 struggles to penetrate key resistance at 6,000 https://t.co/07OdgCzeZD
  • Join @DanielGMoss's #Webinar at 10:00 PM ET/2:00 AM GMT for his weekly coverage of trading prep for $AUDUSD in the week ahead. Register here: https://t.co/wi1qabrtHJ https://t.co/yUfAnqiYEs
  • Dow Jones climbed a second day on fiscal stimulus hopes. All 9 Dow sectors were up. Traders face a quiet calendar day, with the 1st presidential debate closely eyed. The live TV debate will be on air from 9:00 to 10:30am Singapore time on Wednesday. https://t.co/vyVHRqDCMo
  • According to John Hopkins University, Coronavirus deaths globally have surpassed 1 million people
  • What is the outlook for financial markets ahead of the first presidential debate and how are Democratic nominee Joe Biden and President Donald Trump doing in the polls? Find out from @ZabelinDimitri here: https://t.co/QQwAZTxZFg https://t.co/7meK4cF0U9
EUR/USD Technical Analysis: Short Trade Nearing Target

EUR/USD Technical Analysis: Short Trade Nearing Target

2016-07-06 02:47:00
Ilya Spivak, Head Strategist, APAC
Share:

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

Talking Points:

  • EUR/USD Technical Strategy: Short at 1.1112
  • Euro snaps counter-trend support, suffers worst loss in over a week
  • Short trade triggered above 1.11 figure vs. US Dollar nearing target

The Euro suffered in the largest one-day loss in over a week against the US Dollar after retesting broken trend line support. The plunge broke support guiding the recovery following the currency’s post-“Brexit” plunge, hinting down trend resumption may be at hand.

Near-term support is at 1.1018, the 50% Fibonacci expansion, with a break below that on a daily closing basis opening the door for a challenge of the 61.8% level at 1.0876. Alternatively, a push above the 1.1159-93 area (trend line support-turned-resistance, 38.2% Fib) paves the way for a retest of resistance at 1.1393.

The entry order to short EUR/USD at 1.1112 has been triggered and prices are now approaching the trade’s first target at 1.1018. If that level is hit, half of the position will be booked and the remainder left open to capture further weakness with a stop-loss adjusted to breakeven.

Are traders buying or selling the Euro? Find out here!

EUR/USD Technical Analysis: Short Trade Nearing Target

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

DISCLOSURES