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 Download
EUR/USD
Bullish
GBP/USD
Bullish
USD/JPY
Bearish
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
Bearish
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
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
Bitcoin
Bullish
More View more
Breaking news

Markets Extend Losses, Dow Jones Down Over 14 Percent for the Week

Real Time News
  • A special report amid this market slump considering what can stop the burning: 'As $SPX Crashes: What Can the Authorities Do to Stop the Bleeding?' https://www.dailyfx.com/forex/fundamental/article/special_report/2020/02/28/As-SP-500-Crashes-What-Can-the-Authorities-Do-to-Stop-the-Bleeding.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/HGvNg5iL0M
  • BOE's Cunliffe says Facebook's Libra could become systemically important - BBG
  • The daily decline in silver is its largest since November 2016
  • Alongside gold, $XAG suffered a massive drop today, falling to support around the $16.78 area with RSI tagging oversold territory. Something to keep an eye on in the days to come https://t.co/M9FEyEEf8B
  • Gold drops below 1590 in largest intraday drop since 2013 $XAUUSD https://t.co/aAKI494BMu
  • Join @IG_US and @DailyFX from 7th - 9th March at @TradersExpo, booth number 311 at NY Marriott, Brooklyn Bridge for three days of forex strategy, fundamental and technical analysis discussions. Register here: https://t.co/oziKe3rJZi https://t.co/RhtPlWREnq
  • WHO raises global risk from virus from high to very high - BBG
  • EUR/GBP Weekly Price Forecast: Euro vs British Pound Signals Upside Break More details in the link below: https://www.dailyfx.com/forex/technical/home/analysis/eur-gbp/2020/02/28/EURGBP-Weekly-Price-Forecast-Euro-vs-British-Pound-Signals-Upside-Break-MK.html?CHID=9&QPID=917714 https://t.co/tDLq5YGMXQ
  • $GBP below 1.28, $JPY session highs https://t.co/GpuFtSPdqL
  • Gold is plummeting today alongside stocks, falling more than $60 - https://www.dailyfx.com/forex/market_alert/2020/02/27/Gold-Price-Forecast-Bullion-May-Require-Consolidation-Before-Further-Gains.html
EUR/USD Technical Analysis: Sellers Take Aim Below 1.12 Figure

EUR/USD Technical Analysis: Sellers Take Aim Below 1.12 Figure

2018-11-13 01:30:00
Ilya Spivak, Sr. Currency Strategist
Share:

EUR/USD Technical Strategy: SHORT AT 1.1648

  • Euro breaks below 1.13 figure, exposes support in the 1.1110-32 area
  • Test through 1.09 may follow further breakdown, 1.13 now resistance
  • Modest upswing sought for better risk/reward to add to short position

See our Euro forecast to learn what is likely drive prices through year-end!

The Euro looks likely to suffer deeper losses against the US Dollar after dropping through support in the 1.1268-1.1301 area, hitting the lowest level in over 16 months. Prices accelerated downward after last week’s break of counter-trend support guiding a tepid upswing, as expected.

Euro vs US Dollar chart - daily

Form here, sellers are eying the next downside barrier in the 1.1110-32 zone, with a break below that confirmed on a daily closing basis exposing a minor barrier at 1.1024 (May 2017 high), followed by a more substantive threshold in the 1.0797-1.0863 region.

Alternatively, a reversal back above 1.1301 – likewise confirmed with a daily close – opens the door for another challenge of resistance at 1.1432. This level marks the intersection of a former support level as well as a falling trend line guiding the down move since late September.

The short EUR/USD trade activated at 1.1708 and subsequently scaled up at 1.1468 is still in play. Risk/reward considerations argue against adding to exposure immediately, so an entry order has been established to do so at 1.1242. A stop-loss will be triggered on a discretionary basis.

EUR/USD TRADING RESOURCES

--- 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.

DISCLOSURES

News & Analysis at your fingertips.