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
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
More View more
Real Time News
  • What is market volatility and what does a market event volatility look like? Find out from @PaulRobinsonFX here: https://t.co/vg7w10la3j https://t.co/HF3B9pG1FP
  • RT @XHNews: China's foreign exchange reserves came in at 3.0956 trillion U.S.D at the end of November, increased by 22.9 billion dollars fr…
  • Activity behind the Aussie Dollar is extreme - even compared to market-wide extremes (quiet). I talk about it in my $AUDUSD and AUD tech analysis for this week https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2019/12/07/Australian-Dollar-Forecast-Has-a-Systemic-Break-But-How-Far-Out-Is-It.html https://t.co/ZNKW1YqXkS
  • RT @BIS_org: Average daily turnover of OTC interest rate derivatives more than doubled over 2016-19 to $6.5 trillion, taking OTC markets’ s…
  • RT @BIS_org: Trading in emerging market currencies grew faster than major currencies 2016-19 to almost $1.6 trillion a day & 23% of global…
  • RT @BIS_org: The dollar #RepoMarket experienced stress in September - Following structural changes in the financial system, the reluctance…
  • RT @BIS_org: #AssetValuations in equity markets hinge on the (exceptionally low and negative) term premium; various indicators point to hig…
  • RT @BIS_org: The BIS Quarterly Review is out https://t.co/MyqyhpnTVR https://t.co/BRZeZoRBTN
  • oll - Does your personality match your #tradingstyle? Vote and find out from @WVenketas here: https://t.co/vREsUIWSJd https://t.co/PZSZ7OAtSN
  • Central bank independence has several advantages and disadvantages. Find out what they are in-depth with @MartinSEssex here: https://t.co/wVFXbbTxf1 https://t.co/qAYQhmOVUf
EUR/USD Technical Analysis: Looking to Sell into Euro Upswing

EUR/USD Technical Analysis: Looking to Sell into Euro Upswing

2018-08-20 00:30:00
Ilya Spivak, Sr. Currency Strategist

EUR/USD Technical Strategy: NET SHORT AT 1.2276

  • Euro recovery may bring retest of 1.15 figure vs US Dollar
  • Upswing seen as corrective within the long term downtrend
  • Signs of bullish exhaustion sought to add to short position

See our free guide to get help building confidence in your EUR/USD trading strategy!

The Euro may recover further against the US Dollar having found support at the 1.13 figure before the dominant long-term down trend is resumed. The appearance of positive RSI divergence preceded a bounce as expected and a completed Head and Shoulders pattern on the four-hour chart suggests a retest above the 1.15 threshold is in the cards ahead.

EUR/USD Technical Analysis: Looking to Sell into Euro Upswing

Turning to the daily chart, the broader bearish bias seems readily apparent, with price action since mid-April defined by a series of lower highs and lows. A daily close above the 38.2% Fibonacci expansion at 1.1452 opens the door for a retest of support-turned-resistance in the 1.1527-77 area. Alternatively, a push below the 50% level at 1.1329 paves the way for a challenge of the 61.8% Fib at 1.1206.

EUR/USD Technical Analysis: Looking to Sell into Euro Upswing

The EUR/USD short trade triggered at 1.2407 and subsequently scaled up near 1.19 continues to be in play. The developing upswing will be treated as an opportunity to add to exposure further. To that end, price action will be closely monitored for signs of exhaustion, with break of counter-trend support set from the August 15 low being one possible cue to sell.


--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

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

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


News & Analysis at your fingertips.