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Forex Chart of the Day

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

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  • EUR/USD Technical Strategy: Pending Short
  • Support: 1.3835 (23.6% Fib exp.), 1.3793 (38.2% Fib exp.)
  • Resistance: 1.3905 (Apr 11 high)

The Euro is stalling at chart support just below the 1.38 figure against the US Dollar having found resistance near the 1.39 mark. A break below support at 1.3793 marked by the 38.2% Fibonacci expansion on a daily closing basis initially exposes the 50% level at 1.3758. The first layer of significant resistance is at 1.3905, the April 11 swing high.

Our long-term fundamental outlook continues to argue for Euro weakness. Prices are too close to near-term support to justify a short position at current levels from a risk/reward perspective. With that in mind, we will remain on the sidelines until a more attractive opportunity presents itself.

dailyclassics_eur-usd_body_Picture_12.png, EUR/USD Technical Analysis – Selloff Stalls Near 1.38 Mark

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

By Ilya Spivak, EUR/USD Technical Strategy: Pending Short Support: 1.3835 (23.6% Fib exp.), 1.3793 (38.2% Fib exp.) Resistance: 1.3905 (Apr 11 high) The Euro has turned lower anew against the US Dollar having found resistance just above the 1.39 figure. Prices are testing support at 1.3793, the 38.2% Fibonacci expansion, with a break below that targeting the 50% level at 1.3758. Near-term […]

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

By Ilya Spivak, EUR/USD Technical Strategy: Pending Short Support: 1.3835 (23.6% Fib exp.), 1.3793 (38.2% Fib exp.) Resistance: 1.3905 (Apr 11 high) The Euro may be carving out a top below 1.39 to the US Dollar after prices put in bearish Evening Star candlestick pattern. A break below support at 1.3835, the 23.6% Fibonacci expansion, initially exposes the 38.2% level at 1.3793. […]

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

By Ilya Spivak EUR/USD Technical Strategy: Pending Short Support: 1.3835 (23.6% Fib exp.), 1.3793 (38.2% Fib exp.) Resistance: 1.3905 (Apr 11 high)

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

By Ilya Spivak, EUR/USD Technical Strategy: Pending Short Support: 1.3830 (23.6% Fib exp.), 1.3793 (channel top) Resistance: 1.3928 (38.2% Fib exp.), 1.4007 (50% Fib exp.) The Euro continued to push higher against the US Dollar as expected after prices broke above resistance at the top of a falling channel set from mid-March. The pair is now positioned to test the 38.2% Fibonacci expansion at […]

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

By Ilya Spivak, EUR/USD Technical Strategy: Pending Short Support: 1.3830 (23.6% Fib exp.), 1.3800 (channel top) Resistance: 1.3928 (38.2% Fib exp.), 1.4007 (50% Fib exp.) The Euro looks poised to extend its recovery against the US Dollar after prices cleared resistance at the top of a falling channel set from mid-March. Buyers now aim to challenge the 38.2% Fibonacci expansion at 1.3928, […]

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

By Ilya Spivak EUR/USD Technical Strategy: Pending Short Support: 1.3672 (Apr 4 low), 1.3653 (channel floor) Resistance: 1.3805-30 (channel top, 23.6% Fib exp.), 1.3928 (38.2% Fib exp.)

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

By Ilya Spivak EUR/USD Technical Strategy: Pending Short Support: 1.3663 (channel floor) Resistance: 1.3814-30 (channel top, 23.6% Fib exp.), 1.3928 (38.2% Fib exp.)

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

By Ilya Spivak EUR/USD Technical Strategy: Pending Short Support: 1.3671-1.3709 (channel floor, 38.2% Fib ret.), 1.3630 (50% Fib ret.) Resistance: 1.3822 (channel top)

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

By Ilya Spivak EUR/USD Technical Strategy: Pending Short Support: 1.3709 (38.2% Fib ret.), 1.3681 (channel floor) Resistance: 1.3830 (channel top)

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

By Ilya Spivak EUR/USD Technical Strategy: Pending Short Support: 1.3709 (38.2% Fib ret.), 1.3690 (channel floor) Resistance: 1.3840 (channel top)

Chart Of The Day For April 2nd, 2014 – USD/JPY

By Ilya Spivak USD/JPY Technical Strategy: Long at 102.82 Support:102.59-62 (Feb 11 close, Triangle top) Resistance: 103.75-104.14 (Mar 7 high, 38.2% Fib exp.), 105.19 (50% Fib exp.)

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

By Ilya Spivak EUR/USD Technical Strategy: Pending Short Support: 1.3721 (50% Fib ret.), 1.3663 (61.8% Fib ret.) Resistance: 1.3779 (38.2% Fib ret.), 1.3833 (channel bottom)

Chart Of The Day For March 31st, 2014 – USD/JPY

By Ilya Spivak USD/JPY Technical Strategy: Long at 102.82 Support:102.62-67 (Feb 11 close, Triangle top), 101.46 (Triangle floor) Resistance: 103.75-104.14 (Mar 7 high, 38.2% Fib exp.), 105.19 (50% Fib exp.)

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

By Ilya Spivak EUR/USD Technical Strategy: Pending Short Support: 1.3721 (50% Fib ret.), 1.3663 (61.8% Fib ret.) Resistance: 1.3779 (38.2% Fib ret.), 1.3817 (channel bottom)

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

By Ilya Spivak EUR/USD Technical Strategy: Pending Short Support: 1.3779 (38.2% Fib ret.), 1.3721 (50% Fib ret.) Resistance: 1.3808 (channel bottom), 1.3850 (23.6% Fib ret.)

Chart Of The Day For March 26th, 2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Pending Short Support: 1.3779-81 (38.2% Fib ret., channel floor), 1.3721 (50% Fib ret.) Resistance: 1.3850 (23.6% Fib ret.), 1.3876 (trend line)

Aussie and Cable Climb on Central Bank Comments

By Boris Schlossberg Market Drivers March 26, 2014 Aussie takes out 9200 as Stevens fails to jawbone aggressively BoE’s Weale – rates wont stay at 0.5% indefinitely Nikkei .37% Europe 1.43% Oil $99/bbl Gold $1315/oz. Europe and Asia: EUR GFK Consumer Sentiment 8.5 vs. 8.5 CHF Consumption Indicator 1.57 vs. 1.49 North America: USD Durable […]

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

By Ilya Spivak EUR/USD Technical Strategy: Pending Short Support: 1.3779 (38.2% Fib ret., channel floor), 1.3721 (50% Fib ret.) Resistance: 1.3850 (23.6% Fib ret.), 1.3966 (Mar 13 high)

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

By Ilya Spivak, The Euro declined against the US Dollaras expected, breaking rising channel set from early February and pushing below the 1.38 figure. The pair is now testing the 38.2% Fibonacci retracement at 1.3779, with a conclusive break downward exposing the 50% level at 1.3721. Alternatively, a reversal back above the 1.38 mark aims for the 23.6% Fib at […]

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