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
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
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
Wall Street
Bearish
Gold
Bullish
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • The USD/MXN has broken below a key pivot zone but the follow-though looks a bit tired here. Get your $USDMXN market update from @MBForex here:https://t.co/mCa70wzCfz https://t.co/dyL8MlqXj7
  • RT @DailyFX: Can big tech post another miracle earnings season? Find out from @PeterHanksFX here: https://t.co/8RGba8tB8P https://t.co/tQZQ…
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 1.70% Gold: 0.95% Oil - US Crude: 0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/pdcpeF9zbc
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.61%, while traders in EUR/USD are at opposite extremes with 73.13%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/dqXvVj6gcX
  • Fed Beige Book: - Districts saw modest price increases since last report - Food, autos, and appliances increased significantly in price - Firms continue to take on additional costs related to Covid, including ppe and technology to work from home $SPX $NDX $DXY
  • Fed Beige Book: - Economic output continued to increase across all Fed Districts at a slight to moderate pace - Manufacturing activity increased at a moderate pace in general - Consumer spending growth continues to be positive $DXY
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: US 500: 0.05% Germany 30: 0.05% France 40: -0.11% FTSE 100: -0.12% Wall Street: -0.16% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/qRmsVvTyG6
  • Heads Up:🇺🇸 Fed Beige Book due at 18:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-10-21
  • Senate Democrats have the votes required to block GOP on aid bill $DXY $SPX
  • Senator Shelby says he is open to $1.9 trillion virus aid package depending on details - BBG
EUR/USD Technical Analysis: Euro Soars to Six-Month High

EUR/USD Technical Analysis: Euro Soars to Six-Month High

2017-05-18 10:45:00
Ilya Spivak, Head Strategist, APAC
Share:

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

Talking Points:

  • EUR/USD Technical Strategy: Flat
  • Euro soars to 6-month high vs US Dollar, hits long-term resistance
  • Dominant trend still points down but actionable short signal absent

The Euro soared to the highest level in over six months against the US Dollar as troubling news-flow out of Washington DC sent the greenback scrambling. Prices are in digesting after four days of gains and a clear-cut trading opportunity does not seem readily apparent.

Resistance is now at 1.1181, the 50% Fibonacci expansion, with a break above that on a daily closing basis opening the door for a test of the 61.8% level at 1.1261. Alternatively, a reversal back below the 38.2% Fib at 1.1100 – now recast as support – exposes the 23.6% expansion at 1.1000.

An entry order to sell EUR/USD at 1.0955 was triggered and the trade was subsequently stopped out. The dominant long-term trend continues to favor the downside but an actionable short trade setup is decidedly absent. With that in mind, opting for the sidelines seems prudent for now.

Retail traders are betting on a weaker Euro. Find out here what that hints about coming price action!

EUR/USD Technical Analysis: Euro Soars to Six-Month High

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

DISCLOSURES