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
Bullish
Oil - US Crude
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
Wall Street
Mixed
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/6wxX6oQurn
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here: https://t.co/e4CnobJCss https://t.co/w009tJEQZn
  • 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/2AeO1AdD2M
  • 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/ZNs4Qi8ieG https://t.co/INJz4NSugQ
  • 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/QszmdZX8cS https://t.co/qdrsi61CN8
  • It seems the markets are riding high, but risk is always lurking around the corner. Consider your escape plan before you find yourself in collapsing market. What are the top havens for different conditions in 2021? Find out from @JohnKicklighter here: https://t.co/1oeXWEsJkb https://t.co/IyQdfq29fz
  • Myth or fact? One thing is for sure, there are a lot of misconceptions about trading. Knowing the difference between common trading myths and the reality is essential to long-term success. Find out about these 'myths' here: https://t.co/EDvQdHfIPm https://t.co/R7pa7DsM8n
  • What are some monetary policies that could affect Gold this quarter? Get your Gold free forecast here: https://t.co/bTXkGN1CIM #DailyFXGuides https://t.co/EhdZpmkzaH
  • Even more remarkable than the record high levels of leverage registered in US equities this past week was the attention it garnered. Paying attention to risk is a threat when markets are this high and the docket as dense as it is this week. My outlook: https://www.dailyfx.com/forex/video/daily_news_report/2021/01/23/Dow-VIX-Tesla-and-Leverage-Reflect-Greater-Risk-to-the-Relentless-Bull-Market.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/KBOJIRPTQe
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here: https://t.co/yOEvLjKnct https://t.co/qP2PbS4dsY
EUR/USD Technical Analysis: Euro Hopes for Lifeline at 3-Year Low

EUR/USD Technical Analysis: Euro Hopes for Lifeline at 3-Year Low

Ilya Spivak, Head Strategist, APAC

EUR/USD TECHNICAL ANALYSIS: BEARISH

  • Euro sinks through 3-year support, probing below 1.07 figure
  • Bounce above 1.10 needed to neutralize near-term bearish bias
  • Trader sentiment studies bolster the case for Euro weakness

The Euro swiftly banished hopes for a rebound that briefly flashing on the daily chart mid-week, accelerating downward against the US Dollar to puncture three-year support in the 1.0783-1.0880 area. That put prices squarely atop the 78.6% Fibonacci expansion at 1.0652. Breaking below this barrier on a daily closing basis may open the way for a challenge of the 100% Fib at 1.0422.

Euro vs US Dollar price chart - daily

EUR/USD daily chart created with TradingView

Turning to the 4-hour chart offers a glimpse of what might happen were EUR/USD to attempt recovery. Resistance begins in the 1.0777-84 zone, followed by a minor inflection point at 1.0848. A break of downward-sloping trend resistance is probably a prerequisite for neutralizing immediate selling pressure however. Doing that would require prices to extend north of the 1.10 figure.

Euro vs US Dollar price chart - 4 hour

EUR/USD 4-hour chart created with TradingView

Building Confidence in Trading
Building Confidence in Trading
Recommended by Ilya Spivak
Building Confidence in Trading
Get My Guide

EUR/USD TRADER SENTIMENT

Euro vs US Dollar price, trader sentiment chart

Retail positioning data shows 56.19% of traders are net-long, with the long-to-short ratio at 1.28 to 1. IG Client Sentiment(IGCS) is typically used as a contrarian indicator, sothe net-longskew in tradersexposure suggests that EUR/USD is biased downward.

The number of traders net-long is 12.27% higher than yesterday and 52.67% higher from last week.The net-short tally is down 11.53% from yesterday and 30.31% lower compared with a week before. On balance, this speaks to strengthening conviction in bearish follow-through.

See the full IGCS sentiment report here.

How to Use IG Client Sentiment in Your Trading
How to Use IG Client Sentiment in Your Trading
Recommended by Ilya Spivak
Improve your trading with IG Client Sentiment Data
Get My Guide

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