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
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Mixed
Wall Street
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
Mixed
GBP/USD
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
USD/JPY
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
More View more
Real Time News
  • We ended this past week with another cliffhanger. The $SPX teeters on the edge of a breakdown from the post-pandemic recovery. While we have NFPs and other key data ahead, the markets are likely to remain fixated on yields. My outlook for next week: https://www.dailyfx.com/forex/video/daily_news_report/2021/02/27/SP-500-Dollar-Reversal-Hinge-Not-On-NFPs-but-Markets-Risk-Imagination.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/mlNDDyTgex
  • Make smart trading decisions with your free guide to trade the news. Download your free guide here.https://t.co/pb5E2KgRzW #DailyFXGuides https://t.co/70ZOJ0ZMwF
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/SyroornFf5
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here: https://t.co/ZNs4QhQGQ6 https://t.co/KrMcyZZqO7
  • The Reserve Bank of Australia (RBA) rate decision may spark a bullish reaction in $AUDUSD as the central bank is expected to retain the current course for monetary policy. Get your market update from @DavidJSong here: https://t.co/WbcR9ER0qT https://t.co/TynsqCtPQ6
  • Gold has broken below a critical support confluence we’ve been tracking for months now and the risk remains for further losses while below this threshold in the weeks ahead. Get your $XAUUSD market update from @MBForex here:https://t.co/xgN2obaIWR https://t.co/H71ufPNkPg
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZFxlk https://t.co/Evr5KgUjVo
  • $GBPUSD corrects from stretched valuations, however, positioning clear is likely to entice dip-buyers. Get your market update from @JMcQueenFX here: https://t.co/sfFdBx9pN6 https://t.co/j6nnry65SW
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out https://t.co/c51s3IBcEu https://t.co/oQrOpYINOj
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/LSVPlus0vv
EUR/USD Technical Analysis: Euro Bounce May Bring Test Above 1.15

EUR/USD Technical Analysis: Euro Bounce May Bring Test Above 1.15

Ilya Spivak, Head Strategist, APAC

EUR/USD Technical Strategy: Flat

  • Euro breaks 2-month trend resistance, hinting at further gains ahead
  • Longer-term positioning suggests near-term gains probably corrective
  • Profit booked on short trade, waiting for rebound to top for re-entry

Build confidence in your Euro trading strategy with our free guide!

The Euro has breached resistance guiding it lower against the US Dollar since late September, hinting a larger advance may be in the cards. From here, a daily close above the 1.1543-54 chart inflection area exposes minor resistance levels marked by October 16 and August 28 highs at 1.1622 and 1.1734, respectively. A pivotal range top follows in the 1.1815-40 zone.

The outer layer of resistance-turned-support is now at 1.1374. A turn back below that – likewise confirmed on a daily closing basis – would put the 1.1314-1.1279 region back in play. Pushing through that as well would put the November 12 swing low back into the spotlight.

Euro vs US Dollar chart - daily

Turning to the monthly chart for a bit of perspective, further gains from here still look to be corrective within a broader downtrend defining Euro price action for over a decade. In fact, October’s breach of support in the 1.1449-54 area seems to suggest that the next leg in this structural decline may be underway already, even if it is yet to show up in near-term positioning.

EUR/USD Technical Analysis: Euro Bounce May Bring Test Above 1.15

The tactical implications of the current setup are two-fold. First, profit has been booked on the short EUR/USD trade initiated at 1.1708 and then scaled up, first at 1.1468 and subsequently at 1.1242. Second, any on-coming gains from here will be monitored for signs of topping in search of an opportunity to re-enter short in line with the overall trend bias once the current upswing is exhausted.

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