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.

Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
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
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • (Sentiment Weekly) Signals from IG Client Sentiment hint that the FTSE 100 and S&P 500 could have room for weakness ahead as the CAC 40 attempts to climb towards key resistance #SP500 #FTSE100 #CAC40 - https://www.dailyfx.com/forex/fundamental/article/special_report/2020/05/27/FTSE-100-SP-500-CAC-40-Forecasts-Analyzing-Signals-in-Positioning.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/5yVyQF6Jix
  • Japan compiles new stimulus package of 117.1 trillion #Yen, new spending in second extra budget is 31.9 trillion Yen -BBG citing relevant document
  • Emerging market currencies haven’t been treated equally by the effects of global contagion, even if most have suffered to some degree. However withdrawal of investment flows could hit them all. Get your market update from @DavidCottleFX here:https://t.co/QzNoNYgMgP https://t.co/jTtYhKosIa
  • China's #Yuan falls 0.28% to 7.1560/USD which is the weakest since September 2019 -BBG
  • Silver has been beaten handily by gold in the rush to haven assets inspired by the contagion. However, the gold/silver ratio was rising steadily before this crisis and will probably continue to do so. Get your #silver market update from @DavidCottleFX here:https://t.co/00DiZn6XZS https://t.co/Ep6p4HgiAU
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: -0.01% Silver: -0.28% Oil - US Crude: -1.25% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/uGnOx2D3QE
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.05% 🇨🇭CHF: -0.08% 🇨🇦CAD: -0.10% 🇪🇺EUR: -0.16% 🇳🇿NZD: -0.17% 🇦🇺AUD: -0.20% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/1fVY4dfYMN
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.52%, while traders in US 500 are at opposite extremes with 76.00%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/HZ4bR3qFl2
  • Hey there traders, if you missed this week's session on IGCS where I discussed the #SP500, #FTSE100 and #CAC40, check out the recording on YouTube here - https://t.co/CJhhtY5WDJ
  • RBNZ Governor Orr: Is 'early days' for business lending schemes, expects schemes to be used more in coming months. Some payments from schemes put into bank deposits -BBG
EUR/USD Technical Analysis: Euro Finds Support But Bias Bearish

EUR/USD Technical Analysis: Euro Finds Support But Bias Bearish

2017-08-14 22:00:00
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 1.1809
  • Euro finds interim support after topping near 1.19 figure vs. US Dollar
  • Break of near-term trend line support argues for a broadly bearish bias

The Euro has managed to find interim support below the 1.17 figure against the US Dollar but the break of near-term trend support still hints at a downside bias. Prices turned lower as expected after hitting the highest level since January 2015 in the wake of July’s decidedly upbeat US employment statistics.

A daily close below the August 9 low at 1.1688 opens the door for a challenge of the 38.2% Fibonacci retracement at 1.1608. Alternatively, a push above the 1.1875-1.1910 area marked by the 23.6% Fib expansion and the August 2 high paves the way for a test of the 38.2% threshold at 1.1990.

The short entry order established to sell EUR/USD at 1.1809 has been activated. The trade initially targets 1.1608 and carries a stop-loss to be activated on a daily close above 1.1910. Profit on half of the position will be booked and stop-loss moved to breakeven upon meeting the first objective.

Have a question about trading EUR/USD? Join a trading Q&A webinar and ask it live!

EUR/USD Technical Analysis: Euro Finds Support But Bias Bearish

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

DISCLOSURES

News & Analysis at your fingertips.