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
EUR/USD
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
Oil - US Crude
Bearish
Wall Street
Bullish
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 89.27%, while traders in GBP/JPY are at opposite extremes with 74.01%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/NrBgCtVZvN
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: US 500: 0.12% France 40: 0.07% Germany 30: 0.06% FTSE 100: -0.04% Wall Street: -0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/z277OvYl2T
  • Australian #Dollar Forecast: #Aussie Breaks 2021 Range- $AUDUSD Rally at Risk - https://t.co/kV3Jr9KSqW https://t.co/3259U46BNn
  • Gold plunged into a critical uptrend support and the focus is on a reaction off this threshold. Get your $XAUUSD market update from @MBForex here:https://t.co/9647GKHVTa https://t.co/VOxFsFU8rf
  • NY Fed accepts $813.6 billion in reverse repo operations, a new record high $USD $DXY
  • Bostic sees first hike in 'late 2022' and doesn't want to hike until Taper is complete. If the Fed follows the three quarter spacing timeline it would suggest roughly: Dec 2022 hike < March 2022 finish taper < any month now start taper https://t.co/j25E9vAUc1
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.94%, while traders in GBP/JPY are at opposite extremes with 73.25%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/6aDy5vbueT
  • Note: Bostic is a voter this year, but not a voter in 2022 or 2023 https://t.co/qs3RWJ2v3Z
  • - Would prefer to hold off on raising interest rates until taper is complete
  • - Does not have a strong view on whether to taper mortgages before treasuries - Does not want to be premature in pulling back bond purchases, but market is functioning now
EUR/USD Technical Analysis: A Top in Place Below 1.10?

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

Ilya Spivak, Head Strategist, APAC

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