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Forex Chart of the Day

Chart Of The Day For July 29th, 2014 – EUR/USD

  • EUR/USD Technical Strategy: Short at 1.3644
  • Support: 1.3396, 1.3324, 1.3208
  • Resistance:1.3454, 1.3502-12, 1.3583

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 1.3396, the 61.8% Fibonacci expansion, clears the way for a decline to the 76.4% level at 1.3324. Alternatively, reversal back above the 50% Fib at 1.3454opens the door for another challenge of the 1.3502-12 area, marked by the 38.2% expansion and the June 5 low.

We entered short EURUSD at 1.3644 in line with our long-term fundamental outlook. We have sincebooked profit on half of the position. The remainder of the trade remains active with a stop-loss at the breakeven level.

EUR/USD Technical Analysis: Deeper Losses Expected Ahead

Chart Of The Day For July 28th, 2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3396, 1.3324, 1.3208 Resistance:1.3454, 1.3502-12, 1.3583 The Euro fell as expected against the US Dollar after prices put in a bearish Evening Star candlestick pattern. Sellers are now eyeing support at 1.3396, the 61.8% Fibonacci expansion. A daily close below this boundary initially exposes the 76.4% level at 1.3324. Alternatively, a move back above […]

Chart Of The Day For July 25th, 2014 – EUR/USD

By Ilya Spivak 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 […]

Chart Of The Day For July 24th, 2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3454, 1.3396, 1.3324 Resistance:1.3502-12, 1.3583, 1.3633 The Euro fell as expected against the US Dollar after prices put in a bearish Evening Star candlestick pattern. Sellers are testing support at 1.3454, the 50% Fibonacci expansion. A daily close below this boundary initially exposes the 61.8% level at 1.3396. Alternatively, a move back above the […]

Chart Of The Day For July 23rd, 2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3454, 1.3396, 1.3324 Resistance:1.3502-12, 1.3583, 1.3629 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 […]

Chart Of The Day For July 22nd, 2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3502-12, 1.3454, 1.3396 Resistance:1.3583, 1.3613, 1.3650 The Euro fell as expected after prices produced a bearish Evening Star candlestick pattern, sinking to the lowest level in a monthagainst US Dollar. Sellers are testing support in the 1.3502-12 area (38.2% Fibonacci expansion, June 5 low). A daily close below this boundary initially exposes 1.3454 […]

Chart Of The Day For July 21st, 2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3502-12, 1.3454, 1.3396 Resistance:1.3583-607, 1.3650, 1.3689 The Euro declined against the US Dollar as expected after prices put in a bearish Evening Star candlestick pattern. A daily close below support in the 1.3502-12 area, marked by the 38.2% Fibonacci expansion and the June 5 low, initially exposes the 50% level at 1.3454. Alternatively, reversal […]

Chart Of The Day For July 18th, 2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3502-12, 1.3454, 1.3396 Resistance:1.3583-607, 1.3650, 1.3689 The Euro declined against the US Dollar as expected after prices put in a bearish Evening Star candlestick pattern. A daily close below support in the 1.3502-12 area, marked by the 38.2% Fibonacci expansion and the June 5 low, initially exposes the 50% level at 1.3454. Alternatively, reversal […]

Chart Of The Day For July 17th, 2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3502-12, 1.3454, 1.3396 Resistance:1.3583-1.3603, 1.3650, 1.3689 The Euro fell as expected after prices produced a bearish Evening Star candlestick pattern, sinking to the lowest level in a monthagainst US Dollar. Sellers are set to test support in the 1.3502-12 area (38.2% Fibonacci expansion, June 5 low). A daily close below this boundary initially […]

Chart Of The Day For July 16th, 2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3502-12, 1.3454, 1.3396 Resistance:1.3583-1.36, 1.3650, 1.3689 The Euro fell against the US Dollar as expected after producing a bearish Evening Star candlestick pattern. Sellers are now targeting the 1.3502-12 area (38.2% Fibonacci expansion, June 5 low), with a break below that on a daily closing basis exposing 1.3454 (50% Fib). Alternatively, a turn above […]

Chart Of The Day For July 15th, 2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3583, 1.3502-12, 1.3454 Resistance:1.3689, 1.3747, 1.3805 The Euro declined as expected against the US Dollar after prices put in a bearish Evening Star candlestick pattern. A daily close below the 1.3583-96 area, marked by a rising trend line and the 23.6% Fibonacci expansion, exposes the 1.3502-12 region (June 5 low, 38.2% level).Alternatively, a turn […]

Chart Of The Day For July 14th, 2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3583, 1.3502-12, 1.3454 Resistance:1.3674-89, 1.3747, 1.3805   The Euro fell against the US Dollar as expected after producing a bearish Evening Star candlestick pattern. A break below the 23.6% Fibonacci expansion at 1.3583 exposes the 1.3502-12 area, marked by the June 5 low and the 38.2% level.Alternatively, a move above the 1.3674-89 area, marked […]

Chart Of The Day For July 11th, 2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3583, 1.3502-12, 1.3454 Resistance:1.3668, 1.3689, 1.3747 The Euro declined as expected against the US Dollar after prices put in a bearish Evening Star candlestick pattern. Support is at 1.3583, the 23.6% Fibonacci expansion, with a daily close below that exposing the 1.3502-12 area marked by the June 5 low and the 38.2% level.A turn […]

Chart Of The Day For July 10th, 2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3583, 1.3502-12, 1.3454 Resistance:1.3661, 1.3689, 1.3747 The Euro declined against the US Dollar as expected after prices put in a bearish Evening Star candlestick pattern below the 1.37 figure. A corrective bounce has offered an improvement in risk/reward parameters and we will now enter shortin line with our long-term fundamental outlook, initially targeting a […]

Chart Of The Day For July 9th, 2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Pending Short Support: 1.3583, 1.3502-12, 1.3454 Resistance:1.3653, 1.3689, 1.3747 The Euro fell against the US Dollar as expected after the pair produced a bearish Evening Star candlestick pattern below the 1.37 figure. A daily close below support is at 1.3583, the 23.6% Fibonacci expansion, targets the 1.3502-12 area marked by the June 5 low and the […]

Chart Of The Day For July 8th, 2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Pending Short Support: 1.3583, 1.3502-12, 1.3454 Resistance:1.3646, 1.3689, 1.3747 The Euro declined against the US Dollar as expected after prices put in a bearish Evening Star candlestick pattern below the 1.37 figure. Sellers are testing support at 1.3583, the 23.6% Fibonacci expansion, with a break below that on a daily closing basis exposing the 1.3502-12 cluster marked […]

Chart Of The Day For July 7th, 2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Pending Short Support: 1.3654, 1.3583, 1.3502-12 Resistance:1.3689-1.37, 1.3747, 1.3805 The Euro may have set a top below 1.37 to the US Dollar after prices carved out a bearish Evening Star candlestick pattern. A daily close below rising trend line support at 1.3654 exposes the 23.6% Fibonacci expansion at 1.3583. Alternatively, a reversal above the […]

Chart Of The Day For July 3rd, 2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Pending Short Support: 1.3654, 1.3583, 1.3502-12 Resistance:1.3689-1.37, 1.3747, 1.3805 The Euro may have set a top below 1.37 to the US Dollar after prices carved out a bearish Evening Star candlestick pattern. A daily close below rising trend line support at 1.3654 exposes the 23.6% Fibonacci expansion at 1.3583. Alternatively, a reversal above the 38.2% […]

Chart Of The Day For July 2nd, 2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Pending Short Support: 1.3620, 1.3585, 1.3476-1.3502 Resistance:1.3689, 1.3747, 1.3805 The Euro paused to digest gains following an expected rally against the US Dollar, failing to overcome resistance below the 1.37 figure. A daily close above the 38.2% Fibonacci retracement at 1.3689 initially exposes the 50% level at 1.3747. Alternatively, a move below resistance-turned-support marked by a […]

Chart Of The Day For July 1st, 2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Pending Short Support: 1.3623, 1.3585, 1.3476-1.3502 Resistance:1.3689, 1.3747, 1.3805 A Euro continued to push higher against the US Dollar as expected, with buyers now aiming to clear a path above the 1.37 figure. The pair is flirting with resistance at 1.3689, the 38.2% Fibonacci retracement, with a daily close above this barrier targeting the 50% level […]

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