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Forex Chart of the Day

Chart Of The Day For August 22th,2014 – EUR/USD

  • EUR/USD Technical Strategy: Short at 1.3644
  • Support: 1.3248, 1.3190-204, 1.3151
  • Resistance:1.3291, 1.3345, 1.3432

 

The Euro managed to break a three-day losing streak against the US Dollar after slumping to the lowest level in eleven months. Near-term support is at 1.3248, the 50% Fibonacci expansion, with a daily close below that exposing the 1.3190-204 area marked by the 61.8% level and a falling channel floor. Alternatively, a turn above 38.2% Fib expansion at 1.3291 clears the way for a challenge of the 23.6% expansion at 1.3345.

We entered short EURUSD at 1.3644 in line with our long-term fundamental outlook and have sincebooked profit on half of the position. The rest is open to capture further weakness with a stop-loss at breakeven.

EUR/USD Technical Analysis: Euro Snaps 3-Day Loss Streak

 

Chart Of The Day For August 21th ,2014 -EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3248, 1.3195-204, 1.3151 Resistance:1.3291, 1.3345, 1.3432   The Euro accelerated downward against the US Dollar after carving out a Triangle chart formation, hitting the lowest level in 11 months. A daily close below the 50% Fibonacci expansion at 1.3248 exposes the 1.3195-1.3204 area, marked by the 61.8% level and a falling channel floor. […]

bitcoin brokers

Bitcoin Climbs Above $500, US Judge Says BTC is ”Clearly Money”

Bitcoin has managed to climb above the $500 support level mentioned in our previous daily roundup. Prices should now remain supported by the this figure, at least in the near term. Yesterday BTC rallied 27 dollars, from $474 to $500. During today’s morning session bitcoin continued the rally upward, hitting a daily high of $528. […]

Chart Of The Day For August 20th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3345, 1.3291, 1.3248 Resistance:1.3345, 1.3432, 1.3461   The Euro resumed its push downward against the US Dollar after completing a Triangle continuation chart formation. Near-term support is at 1.3291, the 38.2% Fibonacci expansion, with a break below that on a daily closing basis exposing the 50% level at 1.3248. Alternatively, a turn […]

Chart Of The Day For August 19th, 2014 -EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3345, 1.3291, 1.3248 Resistance:1.3419, 1.3467-72, 1.3516 The Euro may be readying to correct higher against the US Dollar after an Evening Star candlestick pattern marked a reversal downward, as expected. The case for an upside scenario hinges on the appearance of a Hammer candle coupled with positive RSI divergence. A daily close above […]

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

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3345, 1.3291, 1.3248 Resistance:1.3419, 1.3472, 1.3516   The Euro may be preparing for a rebound against the US Dollar having declined as expected after showing a bearish Evening Star candlestick pattern. The appearance of a Hammer candle coupled with positive RSI divergence now argues for an on-coming correction. Near-term resistance is at 1.3419, the […]

Chart Of The Day For August 15th,2014- EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3345, 1.3291, 1.3248 Resistance:1.3419, 1.3472, 1.3516  The Euro may be readying to correct higher against the US Dollar after an Evening Star candlestick pattern marked a reversal downward, as expected. The case for an upside scenario hinges on the appearance of a Hammer candle coupled with positive RSI divergence. A daily close above […]

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

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3345, 1.3291, 1.3248 Resistance:1.3419, 1.3472, 1.3516  The Euro may be preparing for a rebound against the US Dollar having declined as expected after showing a bearish Evening Star candlestick pattern. The appearance of a Hammer candle coupled with positive RSI divergence now argues for an on-coming correction. Near-term resistance is at 1.3419, the 23.6% […]

Chart Of The Day For August 13th,2014 -EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3345, 1.3291, 1.3248 Resistance:1.3419, 1.3472-90, 1.3516 The Euro may be readying to correct higher against the US Dollar after an Evening Star candlestick pattern marked a reversal downward, as expected. The case for an upside scenario hinges on the appearance of a Hammer candle coupled with positive RSI divergence. A daily close above […]

Chart Of The Day For August 12th, 2014 -EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3345, 1.3291, 1.3248 Resistance:1.3419, 1.3472, 1.3516 The Euro declined against the US Dollar as expected after prices put in a bearish Evening Star candlestick pattern. A Hammer candlestick coupled with positive RSI divergence marked the beginning of an attempted recovery, as suspected. Near-term resistance is at 1.3419, 23.6% Fibonacci retracement, with a daily close above […]

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

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3386, 1.3332, 1.3309 Resistance:1.3419, 1.3472, 1.3516 The Euro fell as expected against the US Dollar after prices put in a bearish Evening Star candlestick pattern. The appearance of a Hammer candle with positive RSI divergence marked the start of a bounce as we suspected. A daily close above the 23.6% Fibonacci retracement at 1.3419 exposes […]

Chart Of The Day For August 8th, 2014-EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3316, 1.3277, 1.3238 Resistance:1.3365, 1.3419, 1.3472  The Euro declined against the US Dollar as expected after prices put in a bearish Evening Star candlestick pattern. A narrow break below the 23.6% Fibonacci expansion at 1.3365 has exposed the 38.2% level at 1.3316. Pushing further below that aims for the 50% Fib at 1.3277. Positive […]

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

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3365, 1.3316, 1.3277 Resistance:1.3419, 1.3472, 1.3516  The Euro fell as expected against the US Dollar after prices put in a bearish Evening Star candlestick pattern. A Hammer candle above the 23.6% Fibonacci expansionat 1.3365 hints a corrective bounce may be ahead. Closing above the 23.6% Fib retracement at 1.3419 on a daily basis exposes […]

Chart Of The Day For August 6th, 2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3365, 1.3316, 1.3277 Resistance:1.3445, 1.3493, 1.3533 The Euro declined against the US Dollar as expected after prices put in a bearish Evening Star candlestick pattern. Near-term support is at 1.3365, the 23.6% Fibonacci expansion, with a break below that on a daily closing basis exposing the 38.2% level at 1.3316. Alternatively, a reversal above […]

Chart Of The Day For August 5th, 2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3415, 1.3366, 1.3294 Resistance:1.3445, 1.3493, 1.3533 The Euro fell as expected against the US Dollar after prices put in a bearish Evening Star candlestick pattern. A corrective bounce sees prices eyeing resistance at 1.3445, the 23.6% Fibonacci retracement. A break above that on a daily closing basis exposes 1.3493, the intersection of the 38.2% […]

Chart Of The Day For August 4th, 2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3415, 1.3366, 1.3294 Resistance:1.3445, 1.3493, 1.3533 The Euro declined against the US Dollar as expected after prices put in a bearish Evening Star candlestick pattern. A shallow rebound sees prices testing resistance at 1.3445, the 23.6% Fibonacci retracement. A daily close above that exposes 1.3493, the intersection of the 38.2% level and a falling […]

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

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3366, 1.3324, 1.3208 Resistance:1.3396, 1.3454, 1.3512 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 1.3366, the November 8 2013 close. A break below this boundary on a daily closing basis initially exposes the 76.4% Fibonacci expansion at […]

Chart Of The Day For July 31st, 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 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% […]

Chart Of The Day For July 30th, 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 29th, 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 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% […]

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