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Chart Of The Day For March 31th,2015 – EUR/USD

Talking Points:

  • EUR/USD Technical Strategy: Flat
  • Support: 1.0806, 1.0456, 1.0244
  • Resistance:1.1051, 1.1263, 1.1513

The Euro is digesting gains after rallying as expected against the US Dollar following the appearance of a bullish Piercing Line candlestick pattern. A daily close above the march 26 high at 1.1051 exposes the 38.2% Fibonacci retracement at 1.1263. Alternatively, a move below trend line resistance-turned-support at 1.0806 clears the way for a test of the 1.0456-541 area (March 16 low, the 23.6% Fib expansion).

Our long-term outlook calls for broad-based Euro weakness. With that in mind, we will treat any on-coming gains as corrective, looking to enter short at a more attractive level rather than a seeing the move higher as a buying opportunity. In the meantime, we remain flat.

EUR/USD Technical Analysis: Stalling Below 1.10 Figure

 

Chart Of The Day For March 30th,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0832, 1.0456, 1.0244 Resistance:1.1051, 1.1263, 1.1513 The Euro rose as expected against US Dollar after producing a bullish Piercing Line candlestick pattern. Near-term resistance is at 1.1051, the March 26 high, with a break above that on a daily closing basis exposing the 38.2% Fibonacci […]

Chart Of The Day For March 27th,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0857, 1.0456, 1.0244 Resistance:1.1051, 1.1263, 1.1513 The Euro rallied against the US Dollar as expected after putting in a bullish Piercing Line candlestick pattern. A daily close above the march 26 high at 1.1051 exposes the 38.2% Fibonacci retracement at 1.1263. Alternatively, a move below […]

Chart Of The Day For March 26th,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0955, 1.0456, 1.0233 Resistance:1.1263, 1.1513, 1.1762 The Euro rose as expected against US Dollar, with prices now poised to make a move above the 1.12 figure. Near-term resistance is at 1.1263, the 38.2% Fibonacci retracement, with a break above that on a daily closing basis […]

Chart Of The Day For March 25th,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0456, 1.0233, 0.9984 Resistance:1.0955, 1.1263, 1.1513 The Euro rallied against the US Dollar as expected after putting in a bullish Piercing Line candlestick pattern. A daily close above the intersection of a falling trend line and the 23.6% Fibonacci retracement at 1.0955 exposes the 38.2% […]

Chart Of The Day For March 24th,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0456, 1.0233, 0.9984 Resistance:1.0955, 1.1263, 1.1513 The Euro moved higher against the US Dollar as expected after prices produced a bullish Piercing Line candlestick pattern. Near-term resistance is at 1.0955, the intersection of a falling trend line and the 23.6% Fibonacci retracement, with a break […]

Chart Of The Day For March 23th,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0456, 1.0233, 0.9984 Resistance:1.0955, 1.1263, 1.1513 The Euro rallied against the US Dollar as expected after putting in a bullish Piercing Line candlestick pattern. A daily close above the intersection of a falling trend line and the 23.6% Fibonacci retracement at 1.0955 exposes the 38.2% […]

Chart Of The Day For March 20th,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0456, 1.0233, 0.9984 Resistance:1.0955, 1.1263, 1.1513 A Euro faltered following a test above the 1.10 figure having attempted to rebound against the US Dollar asexpected. Near-term support is in the 1.0456-541 area (March 16 low, the 23.6% Fibonacci expansion), with a break below that on […]

Chart Of The Day For March 19th,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0765, 1.0456, 1.0314 Resistance:1.0955, 1.1263, 1.1513 A Euro rallied against the US Dollar as expected after putting in a bullish Piercing Line candlestick pattern. A daily close above the intersection of falling trend line resistance and the 23.6% Fibonacci retracement at 1.0955 exposes the 38.2% […]

Chart Of The Day For March 18th,2015 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.0408, 1.0060, 0.9713 Resistance:1.0623, 1.0796, 1.0970 A Euro recovery against the US Dollar may be brewing against the US Dollar after prices formed a bullish Piercing Line candlestick pattern. Positive RSI divergence bolsters the case for an upside scenario. Near-term resistance is at 1.0623, the 61.8% Fibonacci […]

Chart Of The Day For March 17th,2015 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.0408, 1.0060, 0.9713 Resistance:1.0623, 1.0796, 1.0970 The Euro may be preparing to turn higher against the US Dollar after putting in a bullish Piercing Line candlestick pattern. A daily close above the 61.8% Fibonacci expansionat 1.0623 exposes the 50% level at 1.0796. Alternatively, a reversal below the […]

Chart Of The Day For March 16th,2015 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.0408, 1.0060, 0.9713 Resistance:1.0623, 1.0796, 1.0970 A Euro recovery against the US Dollar may be brewing as positive RSI divergence hints at ebbing downside momentum. Near-term resistance is at 1.0623, the 61.8% Fibonacci expansion, with a break above that on a daily closing basis exposing the 50% […]

Chart Of The Day For March 13th,2015 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.0408, 1.0060, 0.9713 Resistance:1.0796, 1.0983, 1.1286 The Euro may turn be preparing to higher against the US Dollar after prices put in a bullish Piercing Line candlestick pattern. A daily close above the 14.6% Fibonacci retracement at 1.0796 exposes the 23.6% level at 1.0983. Alternatively, a push […]

Chart Of The Day For March 12th,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0408, 1.0060, 0.9713 Resistance:1.0623, 1.0796, 1.0970 The Euro looks poised to descend below the 1.05 figure against the US Dollar having cleared yet another downside chart threshold. Near-term support is at 1.0408, the 76.4% Fibonacci expansion, with a break below that on a daily closing […]

Chart Of The Day For March 11th,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0623, 1.0408, 1.0060 Resistance:1.0796, 1.0970, 1.1185 The Euro continues to face heavy selling pressure against the US Dollar, with sellers establishing a foothold below the 1.07 threshold. A daily close below the 61.8% Fibonacci expansionat 1.0623 exposes the 76.4% level at 1.0408. Alternatively, a reversal […]

Chart Of The Day For March 10th,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0796, 1.0623, 1.0408 Resistance:1.0970, 1.1185, 1.1318 The Euro put in an Inverted Hammer candlestick, hinting an upside correction against the US Dollar may be in the cards. Near-term resistance is at 1.0970the 38.2% Fibonacci expansion, with a break above that on a daily closing basis […]

Chart Of The Day For March 9th,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0796, 1.0623, 1.0408 Resistance:1.0970, 1.1185, 1.1318 The Euro continues to face heavy selling pressure against the US Dollar, with sellers claiming a foothold below the 1.10 figure. A daily close below the 50% Fibonacci expansionat 1.0796 exposes the 61.8% level at 1.0623. Alternatively, a reversal […]

Chart Of The Day For March 6th,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0970, 1.0796, 1.0623 Resistance:1.1185, 1.1318, 1.1533 The Euro declined for a sixth consecutive day against the US Dollar, sinking to a new 11-year low. Near-term support is at 1.0970, the 38.2% Fibonacci expansion, with a break below that on a daily closing basis exposing the […]

Chart Of The Day For March 5th,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0970, 1.0796, 1.0623 Resistance:1.1185, 1.1318, 1.1533 The Euro moved sharply lower against the US Dollar, with prices descending to the lowest level in over 11 years. A daily close below the 38.2% Fibonacci expansionat 1.0970 exposes the 50% level at 1.0796. Alternatively, a reversal above […]

Chart Of The Day For March 4th,2015 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1185, 1.0970, 1.0796 Resistance:1.1318, 1.1533, 1.1659 The Euro is digesting losses after moving sharply lower to threaten the January swing low against the US Dollar. Near-term support is at 1.1185, the 23.6% Fibonacci expansion, with a sustained break below that exposing the 38.2% level at 1.0970. Alternatively, […]

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