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

Talking Points:

  • EUR/USD Technical Strategy: Flat
  • Euro Finds Support Below 1.12 Figure, Attempts to Resume Recovery
  • Waiting for Signs of Long-Term Down Trend Resumption to Get Short

The Euro is attempting to resume the upside correction launched a month ago against the US Dollar having found support above the 1.11 figure. Prices hit seven-month highs last week but failed to maintain momentum above the 1.17 mark. Still, the series of higher highs and lows carved out from the August 5 low remains intact.

Near-term resistance is now at 1.1368, the 23.6% Fibonacci expansion, with a break above that on a daily closing basis exposing the 38.2% level at 1.1501. Alternatively, a reversal back below the 14.6% Fib at 1.1287 initially clears the way for a test of the August 28 low at 1.1155.

The long-term EURUSD trend remains bearish. That paints the current upswing as well as the larger advance from lows in mid-March as ultimately corrective. With that in mind, we will remain on the sidelines until positioning produces actionable confirmation of down trend resumption.

EUR/USD Technical Analysis: Trying to Re-launch Recovery

Chart Of The Day For September 2nd ,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Euro Finds Support Below 1.12 Figure, Attempts to Resume Recovery Waiting for Signs of Long-Term Down Trend Resumption to Get Short The Euro is attempting to resume the upside correction launched a month ago against the US Dollar having found support above the 1.11 figure. Prices […]

Chart Of The Day For September 1st ,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Euro Drops for Third Day, Aims at Push Below 1.12 Figure Risk/reward Parameters Argue Against Taking Short Trade The Euro declined for a third consecutive day against the US Dollar, with prices now aiming at support below the 1.12 figure. A daily close below the 61.8% […]

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

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Euro Drops for Third Day, Aims at Push Below 1.12 Figure Risk/reward Parameters Argue Against Taking Short Trade The Euro declined for a third consecutive day against the US Dollar, with prices now aiming at support below the 1.12 figure. A daily close below the 61.8% […]

Chart Of The Day For August 28th ,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Euro Drops for Third Day, Aims at Push Below 1.12 Figure Risk/reward Parameters Argue Against Taking Short Trade The Euro declined for a third consecutive day against the US Dollar, with prices now aiming at support below the 1.12 figure. A daily close below the 61.8% […]

Chart Of The Day For August 27th ,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 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 […]

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