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Chart Of The Day For August 27th ,2015 – EUR/USD

Talking Points:

  • EUR/USD Technical Strategy: Flat
  • Euro Rebound Fastest Since 2009
  • Waiting for Short Setup to Emerge

The Euro has advanced to the highest level in over seven months against the US Dollar, with prices claiming a foothold above the 1.16 figure. The speed of the advance has been at least as remarkable as the levels being revisited, marking the fastest upside push since at least 2009. Taking up the long side seems ill-advised however.

The Euro has been trending lower since mid-2008. Needless to say, markets don’t move straight lines and some counter-trend corrections have occurred in the interim. Prior large-scale upswings have averaged more than 20 percent, making the current upswing of just over 12 percent appear relatively small. This means that despite swift upside momentum in the near term, markets are far from disturbing the longer-run trajectory. With that in mind, we will patiently wait on the sidelines for a new selling opportunity present itself.

EUR/USD Technical Analysis: Resistance Now Above 1.18 Figure

Chart Of The Day For August 26th ,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Euro Rebound Fastest Since 2009 Waiting for Short Setup to Emerge The Euro has advanced to the highest level in over seven months against the US Dollar, with prices claiming a foothold above the 1.16 figure. The speed of the advance has been at least as […]

Chart Of The Day For August 25th ,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Euro Rebound Fastest Since 2009 Waiting for Short Setup to Emerge The Euro has advanced to the highest level in over seven months against the US Dollar, with prices claiming a foothold above the 1.16 figure. The speed of the advance has been at least as […]

Chart Of The Day For August 24th ,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1309, 1.1191, 1.1016 Resistance: 1.1466, 1.1574, 1.1811 The Euro continues to push aggressively higher against the US Dollar, with prices testing the highest levels in three months. A daily close above the 1.1428-66 area (61.8% Fibonacci expansion, May 15 high) exposes the 76.4% level at […]

Chart Of The Day For August 21st ,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1219, 1.1171, 1.1112 Resistance: 1.1267, 1.1326, 1.1466 The Euro continues to recover against the US Dollar, with prices advancing to the highest level in two months.Near-term resistance is at 1.1267, the 61.8% Fibonacci expansion, with a break above that on a daily closing basis exposing […]

Chart Of The Day For August 20th ,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1112, 1.1075, 1.1016 Resistance: 1.1171, 1.1219, 1.1267 The Euro launched a sharp recovery against the US Dollar, with a narrow push above chart resistance hinting at further gains ahead. A daily close above the 38.2% Fibonacci expansionat 1.1171 exposes the 50% level at 1.1219. Alternatively, […]

Chart Of The Day For August 19th ,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0972, 1.0898, 1.0818 Resistance: 1.1064, 1.1121, 1.1212 The Euro may be resuming its down trend against the US Dollar after finding resistance below the 1.12 figure.Near-term support is at 1.0972, the 38.2% Fibonacci expansion, with a break below that on a daily closing basis exposing […]

Chart Of The Day For August 18th ,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1064, 1.0972, 1.0898 Resistance: 1.1121, 1.1195, 1.1287 The Euro is cautiously edging downward against the US Dollar after a rebound was capped below the 1.12 figure. A daily close below the 23.6% Fibonacci expansion at 1.1064 exposes the 38.2% level at 1.0972. Alternatively, a move above […]

Chart Of The Day For August 17th ,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1121, 1.1047, 1.0988 Resistance: 1.1121, 1.1195, 1.1287 The Euro may be resuming its down trend against the US Dollar after finding resistance below the 1.12 figure.Near-term support is at 1.1064, the 23.6% Fibonacci expansion, with a break below that on a daily closing basis exposing […]

Chart Of The Day For August 14th ,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1121, 1.1047, 1.0988 Resistance: 1.1195, 1.1287, 1.1466 The Euro paused to digest gains below the 1.12 figure against the US Dollar after hitting the highest level in a month. A daily close above the 61.8% Fibonacci retracementat 1.1195 exposes the 76.4% level at 1.1287. Alternatively, […]

Chart Of The Day For August 13th ,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1121, 1.1047, 1.0988 Resistance: 1.1195, 1.1287, 1.1466 The Euro rose for a sixth consecutive day, putting in the largest daily advance in a month against the US Dollar. Near-term resistance is at 1.1195, the 61.8% Fibonacci retracement, with a break above that on a daily […]

Chart Of The Day For August 12th ,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0988, 1.0875, 1.0818 Resistance: 1.1047, 1.1121, 1.1195 The Euro is working on a sixth consecutive day of gains against the US Dollar after rebounding from five-month trend line support. A daily close above the 38.2% Fibonacci retracementat 1.1047 exposes the 50% level at 1.1121. Alternatively, […]

Chart Of The Day For August 11th ,2015 – EUR/USD

By Ilya Spivak, EUR/USD Technical Strategy: Flat Support: 1.0988, 1.0870, 1.0818 Resistance: 1.1047, 1.1121, 1.1195 The Euro continues to correct higher against the US Dollar, extending the up move for a fourth consecutive session. Near-term resistance is at 1.1047, the 38.2% Fibonacci retracement, with a break above that on a daily closing basis exposing the […]

Chart Of The Day For August 10th ,2015 – EUR/USD

By Ilya Spivak, EUR/USD Technical Strategy: Flat Support: 1.0866, 1.0814, 1.0740 Resistance: 1.0980, 1.1037, 1.1128 The Euro is attempting to launch a recovery having tested five-month rising trend line support against the US Dollar. A daily close above the 23.6%Fibonacci expansion at 1.0980 exposes the 14.6% level at 1.1037. Alternatively, a push below the 1.0866-88 […]

Chart Of The Day For August 7th ,2015 – EUR/USD

By  Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0860, 1.0814, 1.0740 Resistance: 1.0980, 1.1037, 1.1128 The Euro remains perched atop five-month trend line support against the US Dollar as prices await direction cues. Near-term support is in the 1.0860-88 area (trend line, 38.2% Fibonacci expansion), with a break below that on a daily […]

Chart Of The Day For August 5th ,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0814, 1.0740, 1.0648 Resistance:1.0888, 1.0980, 1.1128 The Euro moved lower against the US Dollar as expected after putting in a bearish Evening Star candlestick pattern. Near-term support is in the 1.0814-18 area (50% Fibonacci expansion, May 27 low), with a break below that exposing the […]

Chart Of The Day For August 4th ,2015 – EUR/USD

By Ilya Spivak, EUR/USD Technical Strategy: Flat Support: 1.0888, 1.0814, 1.0740 Resistance:1.0980, 1.1036, 1.1128 The Euro is digesting losses after turning lower against the US Dollar as expected following the appearance of a bearish Evening Star candlestick pattern. A daily close below the 38.2% Fibonacci expansionat 1.0888 exposes the 1.0814-18 area (50% level, May 27 […]

Chart Of The Day For August 3rd ,2015 – EUR/USD

By Ilya Spivak, EUR/USD Technical Strategy: Flat Support: 1.0888, 1.0814, 1.0740 Resistance:1.0980, 1.1036, 1.1128 The Euro moved lower against the US Dollar as expected after putting in a bearish Evening Star candlestick pattern. Near-term support is at 1.0888, the 38.2% Fibonacci expansion, with a break below that exposing the 1.0814-18 area (50% level, May 27 […]

Chart Of The Day For July 31st ,2015 – EUR/USD

By Ilya Spivak, EUR/USD Technical Strategy: Flat Support: 1.0888, 1.0814, 1.0740 Resistance:1.0980, 1.1036, 1.1128 The Euro extended downward against the US Dollar as expected after prices produced a bearish Evening Star candlestick pattern. A daily close below the 38.2% Fibonacci expansionat 1.0888 exposes the 1.0814-18 area (50% level, May 27 low). Alternatively, a move above […]

Chart Of The Day For July 30th ,2015 – EUR/USD

By Ilya Spivak, EUR/USD Technical Strategy: Flat Support: 1.0888, 1.0814, 1.0740 Resistance:1.1047, 1.1121, 1.1195 The Euro put in a bearish Evening Star candlestick pattern, hinting the down trend against the US Dollar may be resuming. Near-term support is at 1.0888, the 38.2% Fibonacci expansion, with a break below that on a daily closing basis exposing […]

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