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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
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
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Find out about the recent history of ISM data, how to track it, and how to trade its release here:
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here:
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here:
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here:
  • 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:
  • Emotions are often a key driving force behind FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here:
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here:
  • Implementing a trading checklist is a vital part of the trading process because it helps traders to stay disciplined, stick to the trading plan, and builds confidence. Learn how to stick to the plan, stay disciplined, and use a checklist here:
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge:
EUR/USD Technical Analysis: Rejected at 12-Month Trend Line

EUR/USD Technical Analysis: Rejected at 12-Month Trend Line

Ilya Spivak, Head Strategist, APAC

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

Talking Points:

  • EUR/USD Technical Strategy: Pending short at 1.0955
  • Euro recovery rejected at 12-month down trend line resistance
  • Confirmation of reversal sought on short-term uptrend break

The Euro recoiled from twelve-month down trend resistance against the US Dollar, validating earlier signs of ebbing upside momentum. Confirmation of a larger top implying continuation downward is still pending however as prices test the bounds of the short-term uptrend.

A daily close below trend line support at 1.0934 opens the door for a test of the 23.6% Fibonacci retracement at 1.0862. Alternatively, a break above major resistance at 1.1002 (trend line, 76.4% Fib expansion) paves the way for a challenge of the 100% threshold at 1.1136.

Entering short looks increasingly compelling but risk/reward considerations argue against the trade for now. With that in mind, an entry order to sell EUR/USD at 1.0955 has been set up. If triggered on a bounce, the trade will initially target 1.0826 and have a stop-loss activated on a daily close above 1.1002.

What will determine where EUR/USD goes through mid-year? See our forecast to find out!

EUR/USD Technical Analysis: Rejected at 12-Month Trend Line

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