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
More View more
EUR/USD Technical Analysis: Euro Aiming Below 1.22 Anew

EUR/USD Technical Analysis: Euro Aiming Below 1.22 Anew

Ilya Spivak, Head Strategist, APAC

EUR/USD Technical Strategy: SHORT AT 1.2407

  • Euro rejected at familiar trend line resistance once again
  • Break of minor support exposes support below 1.22 figure
  • Opting not to scale up exposure as Fed policy call looms

Join our Fed rate decision webinar and follow its impact on EUR/USD live!

The Euro appears to be vulnerable to deeper losses against the US Dollar after a break below near-term chart support opened the way below the 1.22 figure. Another brief foray to the upside proved fruitless, with the single currency rejected on a test of trend line resistance capping gains since mid-February yet again.

A break below the March 9 lowat 1.2273 has exposed the 38.2% Fibonacci retracement at 1.2173. A further breach below that confirmed on a daily closing basis targets the 1.2055-70 area (50% level, August 29 high). Alternatively, a move back above 1.2273 aims for a retest of trend line resistance, now at 1.2374

EUR/USD Technical Analysis: Euro Aiming Below 1.22 Anew

The second half of a short EUR/USD position from 1.2407 remains in play after initial profit was booked last week., looking to capture any further weakness. Scaling up exposure seems ill-advised as the FOMC rate decision looms ahead however. The stop-loss will be triggered on a daily close above 1.2446.


--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, use the comments section below or @IlyaSpivakon 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.