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
Bullish
Oil - US Crude
Mixed
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
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • The New Zealand Dollar’s correction lower against the Japanese Yen and US Dollar may be at an end, as NZD remains constructively perched above key chart support. Get your $NZD market update from @DanielGMoss here:https://t.co/8GiKFTfrMP https://t.co/d2nKfhTfqZ
  • Heads Up:🇦🇺 Ai Group Manufacturing Index (SEP) due at 22:30 GMT (15min) Previous: 49.3 https://www.dailyfx.com/economic-calendar#2020-09-30
  • Heads Up:🇺🇸 Fed Kaplan Speech due at 22:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-09-30
  • FDA expands U.S. safety inquiry into AstraZeneca vaccine: Reuters via BBG
  • I don't think there was even a meaningful 'hope' from the market that this was going to get through, so likely no risk retreat as part of an earnest disappointment https://t.co/9plviuDq0Y
  • House delays stimulus bill vote to allow for more time on talks - BBG
  • SA’s official Q2 unemployment rate at 23.3%, down from 30.1% in Q1. Get your $USDZAR market update from @RichardSnowFX here: https://t.co/coIzNSve7u https://t.co/bAGMxZVYYN
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.50% 🇨🇦CAD: 0.49% 🇦🇺AUD: 0.47% 🇯🇵JPY: 0.21% 🇨🇭CHF: -0.15% 🇪🇺EUR: -0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/84GPyworwF
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Gold: -0.58% Oil - US Crude: -0.84% Silver: -3.68% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/xsYcuQg0ug
  • See my #2020election special take on the following question: Will Trade Wars Persist After the US Election? https://www.dailyfx.com/forex/fundamental/article/special_report/2020/09/30/will-trade-wars-persist-after-the-us-election.html
EUR/USD Technical Analysis: A Top in Place Below 1.10?

EUR/USD Technical Analysis: A Top in Place Below 1.10?

2017-04-28 10:05:00
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 1.0889
  • Euro forms bearish candlestick pattern at major trend resistance
  • Short trade looks for first leg of reversal to test below 1.08 figure

The Euro may be readying to turn lower against the US Dollar having tested the bounds of the dominant down trend in play for nearly a year. Prices spiked following the first round of the French presidential election but a bearish Evening Star candlestick pattern hints a top may be in place.

Near-term support is at 1.0765, the 14.6% Fibonacci expansion, with a break below that on a daily closing basis opening the door for a test of the 1.0650-82 area (23.6% level, horizontal pivot). Alternatively, push above the April 26 high at 1.0951 exposes the outer layer of down trend resistance at 1.1018.

Technical positioning and risk/reward parameters appear attractive and a short EUR/USD position has been triggered at 1.0889. The trade initially targets 1.0765 and a stop-loss will be activated on a daily close above 1.0951. Half of profit will be booked and the stop moved to breakeven when the first objective is met.

What will shape Euro trends through mid-year? See our forecast to find out!

EUR/USD Technical Analysis: A Top in Place Below 1.10?

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

DISCLOSURES