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.



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
More View more
Real Time News
  • EU chief negotiator Michel Barnier will propose that between 15-18% of the fish quota caught in UK waters by EU fleets will be restored to the UK under a free trade agreement -RTE
  • 🇧🇷 Unemployment Rate (SEP) Actual: 14.6% Expected: 14.9% Previous: 14.4%
  • 🇮🇳 GDP Growth Rate YoY (Q3) Actual: -7.5% Expected: -8.8% Previous: -23.9%
  • 🇲🇽 Balance of Trade (OCT) Actual: $6.224B Expected: $3.575B Previous: $4.385B
  • 🇧🇷 Unemployment Rate (SEP) Actual: 14.6 Expected: 14.9% Previous: 14.4%
  • 🇪🇸 Business Confidence (NOV) Actual: -7.7 Previous: -9.2
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 93.53%, while traders in France 40 are at opposite extremes with 75.05%. See the summary chart below and full details and charts on DailyFX:
  • Heads Up:🇲🇽 Balance of Trade (OCT) due at 12:00 GMT (15min) Expected: $3.575B Previous: $4.385B
  • Heads Up:🇮🇳 GDP Growth Rate YoY (Q3) due at 12:00 GMT (15min) Expected: -8.8% Previous: -23.9%
  • Heads Up:🇩🇪 Bundesbank Balz Speech due at 12:00 GMT (15min)
EUR/USD Technical Analysis: Euro Rebound Facing Key Resistance

EUR/USD Technical Analysis: Euro Rebound Facing Key Resistance

2018-02-15 03:00:00
Ilya Spivak, Head Strategist, APAC

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

EUR/USD Technical Strategy: FLAT

  • Euro launches sharp recovery after finding support near 1.22 vs. US Dollar
  • Near-term down trend established from January high remains intact for now
  • Bearish reversal signal or clear-cut breakout needed for an actionable trade

The Euro has launched a spirited recovery after finding support near the 1.22 figure against the US Dollar but the resumption of its uptrend is yet to be confirmed. Indeed, near-term price action continues to be defined by a series of lower highs and lows, warning against assuming that upside continuation is necessarily ahead.

A daily close above falling trend line resistance at 1.2492 opens the door for a challenge of the 1.2538-80 area (January 25 high, 38.2% Fibonacci expansion). Alternatively, a move back below the chart inflection point at 1.2364 paves the way for a retest of the February 9 low at 1.2204.

The short EUR/USD trade activated at 1.2274 has been stopped out. From here, the absence of a bearish reversal signal argues against re-entering the position while proximity to resistance warns not to enter long on risk/reward grounds. On balance, standing aside seems most sensible for the time being.

Find out here what the #1 mistake that traders make is and how you can fix it!

EUR/USD Technical Analysis: Euro Rebound Facing Key Resistance

--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, use the comments section below or @IlyaSpivak on Twitter

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

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