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EURUSD Technical Analysis

This is a discussion on EURUSD Technical Analysis within the Forex Trading forums, part of the Trading Forum category; Forex: EUR/USD Technical Analysis Talking Points: EUR/USD Technical Strategy: Short at 1.3757 Support: 1.3574 (23.6% Fib ret.), 1.3537 (14.6% Fib ...

          
   
  1. #1
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    EURUSD Technical Analysis

    Forex: EUR/USD Technical Analysis

    Talking Points:

    • EUR/USD Technical Strategy: Short at 1.3757
    • Support: 1.3574 (23.6% Fib ret.), 1.3537 (14.6% Fib ret.)
    • Resistance: 1.3595 (trend line), 1.3635 (38.2% Fib ret.)


    We are short Euro against the US Dollar at 1.3757 in line with our long-term fundamental outlook. The single currency launched a rebound from support the bottom of a falling channel set from late December, with prices now testing resistance at 1.3635 marked by the 38.2% Fibonacci retracement. A break above this barrier exposes the channel top at 1.3665. Alternatively, reversing below support at 1.3574, the 23.6% retracement, aims for the February 3 low at 1.3476.

    We see positioning as still favoring the downside. A stop-loss has been set to trigger on a daily close above 1.3738, the January 24 high. Our first long-term objective is 1.3209.


    --- Written by Ilya Spivak, Currency Strategist for DailyFX.com



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    EUR/USD Dips Ahead of Trendline Confluence

    EURUSD Technical Analysis-eurusd-m5-metaquotes-software-corp-temp-file-screenshot-17235.png



    -EURUSD found a top just shy of a trendline confluence. The market is in a range (within a range within a range). Support is estimated at 1.3527/55 and resistance is seen at 1.3637 now. Stronger resistance is probably 1.3745.
    -Bigger picture, the response in late December from the trendline that extends off of the 2008 and 2011 highs does suggest that the market may have made an important top BUT the failed breakdown in late January / early February hints at a bottoming process. Play the range.

    EURUSD Technical Analysis-eurusd-m15-metaquotes-software-corp-temp-file-screenshot-38840.png


    LEVELS: 1.3480 1.35271.3576 | 1.3637 1.3672 1.3699

    EURUSD Technical Analysis-eurusd-m30-metaquotes-software-corp-temp-file-screenshot-2085.png


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    Forex: EUR/USD Technical Analysis

    Talking Points:

    • EUR/USD Technical Strategy: Pending Short
    • Support: 1.3698 (Jan 14 high), 1.3613 (38.2% Fib exp.)
    • Resistance: 1.3768 (trend line), 1.3800 (double top)


    The Euro pulled back from resistance marked by a falling trend line set from the October 2013 swing high and double top to meet support at 1.3698, the January 14 high. A break below this barrier on a daily closing basis targets the 38.2% level at 1.3613. Alternatively, a move above the trend line, now at 1.3768, exposes the 1.38 figure.

    We will continue to wait on the sidelines for now until a new short trade opportunity in line with our fundamental outlook presents itself after our previous attempt to sell the pair stopped out at breakeven.




    Daily Chart - Created Using FXCM Marketscope 2.0

    --- Written by Ilya Spivak, Currency Strategist for DailyFX.com


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    Forex: EUR/USD Technical Analysis

    Talking Points:

    • EUR/USD Technical Strategy: Flat
    • Support: 1.3800-31 (former resistance), 1.3744 (channel bottom)
    • Resistance: 1.3892-1.3911 (Dec 27 high, 38.2% Fib exp.), 1.4045 (50% Fib exp.)


    The Euro may be starting to send early signals of a reversal lower against the US Dollar. Prices put in a Shooting Star candlestick below resistance in the 1.3892-1.3911 area, marked by the December 27 high and the 38.2% Fibonacci expansion. The barrier is further reinforced by a rising channel top. Support is in the 1.3800-31 region, a former double top, with a slide back through that eyeing the channel bottom at 1.3744. Alternatively a break above resistance targets the 50% Fib at 1.4045.

    Our long-term fundamental outlook favors the downside but a Shooting Star is not a concrete-enough signal to enter short. We will wait for confirmation on a daily close below the channel bottom to initiate the trade.


    --- Written by Ilya Spivak, Currency Strategist for DailyFX.com


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    EUR/USD Churns Before FOMC; 1.4050/90 and 1.3815 are Important

    EURUSD Technical Analysis-eurusd-d1-metaquotes-software-corp-temp-file-screenshot-57011.png


    EURUSD Technical Analysis-eurusd-d1-metaquotes-software-corp-temp-file-screenshot-47204.png



    -The EURUSD has broken out of the 5 month triangle. 1.3720 is the new pivot. As long as price is above 1.3720, focus is on the triangle target of 1.4368. The October 2011 high at 1.4247 is a possible reaction level.
    -Former resistance is now estimated support at 1.3813.

    LEVELS: 1.3781 1.38481.3891 | 1.3960 1.4000 1.4087


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    Time Running out for Euro as it Stalls at Critical Resistance

    - Time running out for Euro as it fails at potentially critical resistance
    - Forex sentiment indicator warns that price and positions may have hit extreme
    - Extremely low forex volatility prices limit scope for Euro breakout




    --- Written by David Rodriguez, Quantitative Strategist for DailyFX.com David specializes in automated trading strategies.

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    Forex: EUR/USD Technical Analysis

    • EUR/USD Technical Strategy: Pending Short
    • Support: 1.3779-81 (38.2% Fib ret., channel floor), 1.3721 (50% Fib ret.)
    • Resistance: 1.3850 (23.6% Fib ret.), 1.3876 (trend line)


    An actionable short Euro trade setupin line with our long-term fundamental outlook remains elusive after an expected move lower the US Dollar. The spotlight is on support in the 1.3779-1.38 area, marked by the 38.2% Fibonacci retracement and a rising channel bottom set from late January. We will look for a daily close below this boundary to confirm reversal and position for selling opportunities. The break lower would initially expose the 50% level at 1.3721. Alternatively, a breach above the 23.6% Fib at 1.3850 would target recently broken rising trend line support-turned-resistance at 1.3876.


    EURUSD Technical Analysis-eurusd-d1-metaquotes-software-corp-temp-file-screenshot-56433.png


    --- Written by Ilya Spivak, Currency Strategist for DailyFX.com



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    EUR/USD Eyes 1.3780 As Candlesticks Suggest Bears In Control

    Talking Points

    • EUR/USD Technical Strategy: Shorts Preferred
    • Long upper wick on daily candle highlights significant selling pressure
    • Bearish Engulfing pattern on four hour chart foreshadowed intraday dip


    EUR/USDhas plunged after failing to claim the psychologically-significant 1.4000 handle in recent trading. The intraday volatility has failed to yield a classic candlestick reversal pattern. However, the length of the upper wick and body of the daily candle suggests the bears are in control of prices. This opens up further declines towards the next noteworthy level of support at 1.3780.

    EUR/USD: Eyeing 1.3780 As Bears Take Control




    A Bearish Engulfing pattern near 1.3950 offered an intraday signal that declines were on the way for the Euro. While the Asian session has yielded a couple of Doji formations which hints at some hesitation from the bears, they are not enough to suggest a bounce at this stage.

    EUR/USD: Bearish Engulfing Pattern Sparks Intraday Dip



    By David de Ferranti, Market Analyst, DailyFX

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    EUR/USD Technical Analysis: Continuing to Hold Short

    Talking Points:

    • EUR/USD Technical Strategy: Short at 1.3644
    • Support: 1.3454, 1.3396, 1.3324
    • Resistance:1.3502-12, 1.3583, 1.3637

    The Euro declined against the US Dollar as expected after prices put in a bearish Evening Star candlestick pattern. A daily close below support at 1.3454, the 50% Fibonacci expansion, clears the way for a decline to the 61.8% level at 1.3396. Alternatively, reversal back above the 1.3502-12 area, marked by the 38.2% Fib and the June 5 low, opens the door for another challenge of the 23.6% expansion at 1.3583.




    --- Written by Ilya Spivak, Currency Strategist for DailyFX.com


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    Huge Week Ahead for Euro - Bounce Seems Likely

    - Euro matches longest weekly consecutive losing streak since inception
    - Sentiment, Positioning, and cyclical studies all warn of a potential EURUSD reversal
    - Watch critical support ahead of highly-anticipated European Central Bank decision

    The Euro has now matched its longest weekly losing streak on record as the Dollar surges. Why do we think it’s at special risk of reversal in the coming week?

    Euro Matches Longest Consecutive Weekly Decline since Inception




    Retail Positions Hit Most Stretched Since Euro Traded to $1.20




    Professional Positioning Likewise at Most Stretched Since Same $1.20 lows



    Moving Averages Crossing Lower, Support Downtrend. $1.3105 is Key Support




    --- Written by David Rodriguez, Quantitative Strategist for DailyFX.com David specializes in automated trading

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