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
EUR/USD
Bearish
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
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
Oil - US Crude
Bearish
Bitcoin
Bearish
More View more
Real Time News
  • RT @DShahTR: The new scheduled POMOs will be happening over a 3wk period (Nov 15 to Dec 6) which is faster than the "initial pace of approx…
  • 🇪🇺 EUR Euro-Zone Consumer Price Index (YoY) (OCT F), Actual: 0.7% Expected: 0.7% Previous: 0.7% https://www.dailyfx.com/economic-calendar#2019-11-15
  • 🇪🇺 EUR Euro-Zone Consumer Price Index Core (YoY) (OCT F), Actual: 1.1% Expected: 1.1% Previous: 1.1% https://www.dailyfx.com/economic-calendar#2019-11-15
  • LIVE IN 30 MIN: Currency Strategist @PaulRobinsonFX runs through his favorite charts and potential set-ups for the week ahead in the FX and CFDs market here - https://www.dailyfx.com/webinars/108721147?CHID=9&QPID=917720
  • Heads Up:🇪🇺 EUR Euro-Zone Consumer Price Index Core (YoY) (OCT F) due at 10:00 GMT (15min), Actual: N/A Expected: 1.1% Previous: 1.1% https://www.dailyfx.com/economic-calendar#2019-11-15
  • Heads Up:🇪🇺 EUR Euro-Zone Consumer Price Index (YoY) (OCT F) due at 10:00 GMT (15min), Actual: N/A Expected: 0.7% Previous: 0.7% https://www.dailyfx.com/economic-calendar#2019-11-15
  • Join @PaulRobinsonFX 's #webinar at 5:30 AM ET/10:30 AM GMT as he goes over London #FX & #CFD charts for the next week. Register here: https://t.co/CoMkMA0pdF https://t.co/WpkU69u4wq
  • How should you trade around event risks and what steps can you take to improve your trading psychology? Find out from @JoelKruger, a trading consultant and mentor. Only on Global Markets Decoded. Tune in here! https://t.co/Twr44cZ1GB https://t.co/xpV5Pjkgpr
  • UK Investing Ahead of the General Election | IG Trading the Markets with @JMcQueenFX & @VictoriaS_IG $GBP https://t.co/Rpvdk6BjdO
  • Japanese Yen Chart May Be a Warning Sign for the Nikkei - https://www.dailyfx.com/forex/fundamental/article/special_report/2019/11/15/Japanese-Yen-Chart-May-Be-a-Warning-Sign-for-the-Nikkei.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #USDJPY #Nikkei
EUR/USD Technical Analysis: Euro Looks for Trigger at 1-Month Low

EUR/USD Technical Analysis: Euro Looks for Trigger at 1-Month Low

2019-04-08 00:30:00
Ilya Spivak, Sr. Currency Strategist
Share:

EUR/USD Technical Strategy: BEARISH

  • Euro settles near one-month low after recoiling from trend resistance
  • Trend bias bearish but risk/reward setup may be unattractive for shorts
  • Event risk trigger may be needed to spark the next big directional move

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

The Euro has stalled near one-month support after recoiling from resistance capping upside progress against the US Dollar since late September 2018. That barrier has also established a shallow but unmistakable series of lower highs. Indeed, prices appear to be stair-stepping lower, despite a lot of chop along the way.

From here, a daily close below the March 7 low at 1.1176 opens the door for a test of the 1.1110-32 area, marked by a range floor dating back to mid-2017. Thorough invalidation of the near-term bearish bias is some way off, calling for a daily close above trend line resistance now situated at 1.1412.

Euro vs US Dollar price chart - daily

Tactically speaking, this seems to broadly argue against the long side while highlighting the unattractive risk/reward setup in establishing short exposure. Directional conviction may need a fundamental jolt to rebalance the scales and revive activity. The week ahead offers ample opportunity for exactly that.

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.