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.

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
Oil - US Crude
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
  • White House: - No sign yet that the Delta variant has had an economic impact in the US - Mask guidance to be determined at the local level
  • The final week of July brings forth a packed economic calendar – particularly for the US Dollar: June durable goods orders; July consumer confidence; the July FOMC meeting; and 2Q’21 US GDP. Get your market update from @CVecchioFX here:https://t.co/q7Clikv6M8 https://t.co/OzdmAFVW6X
  • There is a creep of uncertainty with the rise of the Delita variant and the slowing of the economic recovery. Our DFX analysts give you an updated analysis of the top opportunities for Q3👉https://t.co/wEineMCbzt https://t.co/G1wiOMlBRg
  • NY Fed accepts $891.20 billion in reverse repo operations $USD $DXY
  • White House: Because of the Delta COVID variant, the US will maintain global travel restrictions
  • Technical Levels: #Dollar, #Loonie, #Aussie, #Gold, #Silver, #Oil, #Bitcoin and more! (Webinar Archive) - https://t.co/lQIS4EvFkh
  • Russian mainline gas pipeline has exploded in the Perm region - BBG #OOTT #Oil $CL_F
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 94.10%, while traders in Wall Street are at opposite extremes with 75.09%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/dpAetV8XEY
  • Pfizer, Moderna to expand vaccine studies to children aged 5-11 - BBG $PFE $MRNA
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Silver: 0.25% Gold: -0.18% Oil - US Crude: -0.72% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/rLDtKWOz9b
EUR/USD Technical Analysis: Candle Setup Hints at Euro Weakness

EUR/USD Technical Analysis: Candle Setup Hints at Euro Weakness

Ilya Spivak, Head Strategist, APAC

EUR/USD TECHNICAL STRATEGY: BEARISH

  • Bearish Dark Cloud Cover candle pattern hints at Euro losses ahead
  • Confirmation sought on a break of neckline support on 4-hour chart
  • Invalidating bearish bias would begin with a close above 1.15 figure

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

The Euro put in a bearish Dark Cloud Cover candlestick pattern on a test of resistance guiding the currency lower against the US Dollar for over a year. The setup hints corrective gains have run their course and dominant downtrend resumption is brewing ahead.

The first layer of noteworthy support lines up at 1.1290, the January 24 low. A daily close below that exposes the November 9 bottom at 1.1216. Alternatively, a daily close above trend resistance – now at 1.1501 – targets the 1.1543-54 congestion area, followed by the October 16 high at 1.1622.

Chart of EUR/USD (Daily)

Turning to the four-chart for more actionable direction cues, neckline support guiding the past week of price action comes in focus. A break below that as well as the 1.1418-26 congestion region may be the confirmation that sellers are looking for to signal the likelihood of downside follow-through.

Chart of EUR/USD (4-hour)

Sizing up possible catalysts for the downturn, a relatively quiet offering of Euro-specific event risk is likely to put the onus on the USD side of the equation. On that front, deepening risk aversion may help validate technical cues as the Greenback finds support in haven-seeking capital flows.

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