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
Wall Street
Mixed
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
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Yesterday’s gains in the Euro had largely stemmed from month & quarter end rebalancing flows, which had been quite the contrary to various investment bank models touting USD buying. Get your $EURUSD market update from @JMcQueenFX here:https://t.co/zgvi24o4SR https://t.co/7qn4zTf6es
  • $EURUSD Daily Pivot Points: S3: 1.1497 S2: 1.157 S1: 1.1601 R1: 1.1673 R2: 1.1716 R3: 1.1789 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.48% 🇦🇺AUD: 0.28% 🇨🇭CHF: 0.25% 🇪🇺EUR: 0.21% 🇯🇵JPY: -0.06% 🇬🇧GBP: -0.29% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/7SFSKZGIXS
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 2.39% Gold: 1.04% Oil - US Crude: -0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/shTxKyCvb8
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.66%, while traders in US 500 are at opposite extremes with 65.68%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/rUjXP0dNLh
  • New York City Government Bonds downgraded from Aa1 to Aa2 by Moody's - BBG
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: France 40: 0.16% Germany 30: 0.12% FTSE 100: 0.03% US 500: -0.01% Wall Street: -0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/xQ8olnfK5k
  • Amid global equities climbing higher, the Japanese Yen has seen demand fade, particularly after a bout of disappointing Japanese economic data. Get your $JPY market update from @CVecchioFX here: https://t.co/vBNpDHIRbq https://t.co/0Q8pHpdw3z
  • Canadian #Dollar Outlook: $USDCAD Pullback to Offer Opportunity - #Loonie Levels - https://t.co/eBhP0fhmk8 https://t.co/nE6pCQcLeH
  • Silver prices have struggled to set support over the past week, but today’s move is encouraging for Silver bulls and there may be scope for topside continuation. Get your $XAG market update from @JStanleyFX here:https://t.co/IXGwt7iWOY https://t.co/oGfeq9BhUx
EUR/USD Technical Analysis: Euro Struggles to Sustain Upward Push

EUR/USD Technical Analysis: Euro Struggles to Sustain Upward Push

2017-12-18 03:30:00
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 struggles to sustain upward momentum after largest rally in a month vs. US Dollar
  • Inconclusive chart setup, adverse risk/reward setup argue against taking a trade for now

The Euro is struggling to find upside follow-through after posting the largest one-day advance in a month against the US Dollar. The fundamental landscape is seemingly primed for continued consolidation in the near term until the calendar turns to 2018.

Near-term support comes in at 1.1732, with a break below that confirmed on a daily closing basis opening the door for a test of the 1.1662-79 area (August 17 low, 23.6% Fibonacci retracement). Alternatively, a move back above support-turned-resistance at 1.1839 exposes the November 27 high at 1.1961.

Prices are too close to immediate support to justify entering short from a risk/reward perspective. On the other hand, the absence of a clearly-defined bullish reversal signal argues against taking up the long side. That seems to call for patience on the sidelines for now until a better-defined opportunity presents itself.

What is the #1 mistake that traders make, and how can you avoid it? Find out here!

EUR/USD Technical Analysis: Euro Struggles to Sustain Upward Push

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

DISCLOSURES