Skip to content
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
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
EUR/USD Technical Analysis: Three-Month Uptrend Broken

EUR/USD Technical Analysis: Three-Month Uptrend Broken

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 1.1921
  • Euro breaks three-month uptrend, hinting a major reversal is in the works
  • Corrective bounce sought to offer improved risk/reward for short position

The Euro turned lower after finding resistance below the 1.21 figure against the US Dollar as expected, breaking trend line support guiding it higher since mid-June. Building negative RSI divergence ahead of the downturn bolsters the case for follow-through, suggesting a significant reversal may be in progress.

From here, a daily close below the 1.1824-63 area (former resistance, 23.6% Fibonacci expansion) opens the door for a challenge of the 38.2% level at 1.1721. Alternatively, a turn back above 1.1950 (trend line, 14.6% Fib) paves the way for another challenge of double top resistance at 1.2070.

Prices are sitting squarely at support, hinting that entering short at current levels is unattractive from a risk/reward perspective. With that in mind, an entry order to sell the pair has been established at 1.1921. If activated, the trade will initially target 1.1863 and carry a stop-loss activated on a daily close above 1.1977.

What do retail traders’ buy/sell decisions hint about on-coming EUR/USD price moves? Find out here !

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