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Forex Chart of the Day

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

  • EUR/USD Technical Strategy: Short at1.3644
  • Support: 1.2858, 1.2796, 1.2673
  • Resistance:1.2994, 1.3081, 1.3159

The Euro turned sharply lower against the US Dollar once again in the aftermath of the FOMC monetary policy announcement. Near-term support is in the 1.2858-71 area, marked by the September 9 low and the 14.6% Fibonacci expansion. A daily close below that exposes the 23.6% level at 1.2796. Alternatively, a bounce above the September 16 high at 1.2994 clears the way for a challenge of channel floor support-turned-resistance at 1.3081.

We sold EURUSD at 1.3644 in line with our long-term fundamental outlook and have since booked profit on half of the position. The rest remains open to capture any further downside momentum with a stop-loss at 1.3583, our initial objective.

EUR/USD Technical Analysis: Barely Clutching to Support

Chart Of The Day For September 17,2014-EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2864, 1.2794, 1.2708 Resistance:1.2981, 1.3057, 1.3104 The Euro is edging higher against the US Dollar as expected after producing a bullish Piercing Line candlestick pattern. A daily close above the 14.6% Fibonacci retracementat 1.2981 exposes the 23.6% level at 1.3057. Alternatively, a turn below the 50% Fib expansion at 1.2864 opens the door for a test […]

Chart Of The Day For September 16th,2014-EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2864, 1.2794, 1.2708 Resistance:1.2981, 1.3057, 1.3104 The Euro may be preparing to correct higher against the US Dollar after prices completed a bullish Piercing Line candlestick pattern. Near-term resistance is at 1.2981, the 14.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the 23.6% level at 1.3057. Alternatively, a […]

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

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2864, 1.2794, 1.2708 Resistance:1.2981, 1.3057, 1.3104  The Euro may be carving out a near-term bottom against the US Dollar after producing a bullish Piercing Line candlestick pattern. A daily close above the 14.6% Fibonacci retracementat 1.2981 exposes the 23.6% level at 1.3057. Alternatively, a turn below the 50% Fib expansion at 1.2864 opens the […]

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

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2864, 1.2794, 1.2708 Resistance:1.2981, 1.3057, 1.3104 The Euro may be preparing to correct higher against the US Dollar after prices completed a bullish Piercing Line candlestick pattern. Near-term resistance is at 1.2981, the 14.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the 23.6% level at 1.3057. Alternatively, a […]

Chart Of The Day For September 11th ,2014 -EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2864, 1.2794, 1.2708 Resistance:1.2981, 1.3057, 1.3104 The Euro may be carving out a near-term bottom against the US Dollar after producing a bullish Piercing Line candlestick pattern. A daily close above the 14.6% Fibonacci retracementat 1.2981 exposes the 23.6% level at 1.3057. Alternatively, a turn below the 50% Fib expansion at 1.2864 opens the […]

Chart Of The Day For September 10th ,2014 -EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2864, 1.2794, 1.2708 Resistance:1.2981, 1.3057, 1.3104 The Euro may be preparing to correct higher against the US Dollar after prices completed a bullish Piercing Line candlestick pattern. Near-term resistance is at 1.2981, the 14.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the 23.6% level at 1.3057. Alternatively, a […]

Chart Of The Day For September 9th ,2014-EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2864, 1.2794, 1.2708 Resistance:1.2933, 1.3020, 1.3073 The Euro resumed its move lower against the US Dollar after a brief pause, sinking to a 14-month low. A daily close below the 50% Fibonacci expansion at 1.2864 exposes the 61.8% level at 1.2794. Alternatively, a turn above the 38.2% Fib at 1.2933 opens the door for […]

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

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2933, 1.2864, 1.2794 Resistance:1.3020, 1.3073, 1.3104  The Euro is in digestion mode after plummeting below the 1.30 figure against the US Dollar for the first time in over a year. Near-term support is at 1.2933, the 38.2% Fibonacci expansion, with a break below that on a daily closing basis exposing the 50% level at […]

Chart Of The Day For September 5th,2014 -EUR/USD

EUR/USD Technical Strategy: Short at1.3644 Support: 1.2933, 1.2864, 1.2794 Resistance:1.3020, 1.3073, 1.3104  The Euro slumped sharply lower against the US Dollar, with prices dropping below the 1.30 figure the first time in 14 months. A daily close below the 38.2% Fibonacci expansion at 1.2933 exposes the 50% level at 1.2864. Alternatively, a turn above the intersection of the 23.6% Fib and […]

Chart Of The Day For September 4th ,2014 -EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.3104, 1.3064, 1.3001 Resistance:1.3151, 1.3204, 1.3248 The Euro may be setting up for a rebound against the US Dollar as positive RSI divergence warns of ebbing bearish momentum. Near-term resistance is at 1.3151, the 76.4% Fibonacci expansion, with a break above that on a daily closing basis exposing the 61.8% level at 1.3204. Alternatively, […]

Chart Of The Day For September 3rd ,2014 -EUR/USD

By Ilya Spivak, EUR/USD Technical Strategy: Short at1.3644 Support: 1.3104, 1.3064, 1.3007 Resistance:1.3151, 1.3204, 1.3248 The Euro decline against the US Dollar has paused for a respite after prices sank to the lowest level in a year. A daily close belowthe September 2013 swing low at 1.3104 exposes the 100% Fibonacci expansion at 1.3064. Alternatively, a turn above the 76.4% Fib at 1.3151opens the door for a […]

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

By Ilya Spivak, EUR/USD Technical Strategy: Short at1.3644 Support: 1.3064, 1.3016, 1.2977 Resistance:1.3151, 1.3204, 1.3248 The Euro continues to push downward against the US Dollar, with prices now targeting support below the 1.31 figure. Near-term support is at1.3064, 100% Fibonacci expansion, with a break below that on a daily closing basis exposinga falling channel floor at 1.3016. Alternatively, a reversal above the 76.4% Fib at 1.3151 clears […]

Chart Of The Day For August 29th,2014 -EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3151, 1.3041-64, 1.2977 Resistance:1.3232, 1.3281, 1.3361 The Euro may on the verge of a rebound against the US Dollar after forming a Bullish Engulfing candlestick pattern. A daily close above the 14.6% Fibonacci retracementat 1.3232 exposes the 23.6% level at 1.3281. Alternatively, a reversal below the 76.4% Fib expansion at 1.3151 clears the […]

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

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3151, 1.3041-64, 1.2977 Resistance:1.3232, 1.3281, 1.3361 The Euro may be preparing to launch a corrective recovery against the US Dollar after prices put in a Bullish Engulfing candlestick pattern. Near-term resistance is at 1.3232, the 14.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the 23.6% level at […]

Chart Of The Day For August 27th,2014 – EUR/USD

By Ilya Spivak Talking Points:   EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3151, 1.3048-64, 1.2977 Resistance:1.3204, 1.3248, 1.3291   The Euro remains under heavy selling pressure, descending to the weakest level in almost a year against the US Dollar. A daily close below the 76.4% Fibonacci expansion at 1.3151 exposes the 1.3048-64 area marked by the 100% level and a falling […]

Chart Of The Day For August 26th,2014- EUR/USD

By Ilya Spivak Talking Points:   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 is testing the lower bound of its nearly four-month long downswing against the US Dollar after touching the lowest level since September 2013. Near-term support is in the 1.3177-1.3204 area, marked by the 61.8% Fibonacci expansion and a falling channel floor, […]

Chart Of The Day For August 25th,2014- EUR/USD

By Ilya Spivak 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 declined to hit an 11-month low against the US Dollar after carving out a Triangle chart formation. A daily close below the 1.3182-1.3204 area marked by the 61.8% Fibonacci expansion and a falling channel floor exposes the 76.4% level at 1.3151. Alternatively, a reversal […]

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

By Ilya Spivak 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 […]

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. […]

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