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

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 the 23.6% Fib at 1.1185 clears the way for a test of the 1.1276-1318 area (January 30 close, 14.6% Fib expansion).

Entering short in line with our long-term outlook seems compelling from a purely technical perspective but will tactically opt to stay flat. The upcoming US Employment report represents major event risk for USD-based pairs that may derail technical positioning. As such, we will wait for event risk to pass before establishing new exposure.

EUR/USD Technical Analysis: Euro Slumps to 11-Year Low

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, […]

Chart Of The Day For March 3rd,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 continues to digest losses after issuing its largest daily decline in nearly a month against the US Dollar. A daily close below the 23.6% Fibonacci expansionat 1.1185 exposes the 38.2% level at 1.0970. Alternatively, a reversal above the 1.1276-1318 […]

Chart Of The Day For March 2nd,2015 – EUR/USD

By Ilya Spivak, Talking Points: 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 break below that on a daily closing basis exposing […]

Chart Of The Day For February 27th,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 moved sharply lower against the US Dollar, with prices attempting to clear path to the late-January low anew. Near-term support is at 1.1185, the 23.6% Fibonacci expansion, with a break below that on a daily closing basis exposing the […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1276, 1.1185, 1.0970 Resistance:1.1533, 1.1659, 1.1832 The Euro remains in digestion mode after bottoming as expected against the US Dollar following the appearance of a bullish Morning Star candle pattern. A daily close above the February 3 high at 1.1533 exposes the 38.2% Fibonacci retracement at 1.1659. […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1276, 1.1185, 1.0970 Resistance:1.1533, 1.1659, 1.1832 The Euro continues to stall having carved out a bottom against the US Dollar as expected after showing a bullish Morning Star candle pattern. Near-term resistance is at 1.1533, the February 3 high, with a break above that on a daily […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1276, 1.1185, 1.0970 Resistance:1.1533, 1.1659, 1.1832 The Euro remains in digestion mode after bottoming as expected against the US Dollar following the appearance of a bullish Morning Star candle pattern. A daily close above the February 3 high at 1.1533 exposes the 38.2% Fibonacci retracement at 1.1659. […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1276, 1.1185, 1.0970 Resistance:1.1533, 1.1659, 1.1832 The Euro continues to stall having carved out a bottom against the US Dollar as expected after showing a bullish Morning Star candle pattern. Near-term resistance is at 1.1533, the February 3 high, with a break above that on a daily […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1276, 1.1185, 1.0970 Resistance:1.1533, 1.1659, 1.1832 The Euro remains in digestion mode after bottoming as expected against the US Dollar following the appearance of a bullish Morning Star candle pattern. A daily close above the February 3 high at 1.1533 exposes the 38.2% Fibonacci retracement at 1.1659. […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1276, 1.1185, 1.0970 Resistance:1.1533, 1.1659, 1.1832 The Euro continues to stall having carved out a bottom against the US Dollar as expected after showing a bullish Morning Star candle pattern. Near-term resistance is at 1.1533, the February 3 high, with a break above that on a daily […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1276, 1.1185, 1.0970 Resistance:1.1533, 1.1659, 1.1832 The Euro remains in digestion mode after bottoming as expected against the US Dollar following the appearance of a bullish Morning Star candle pattern. A daily close above the February 3 high at 1.1533 exposes the 38.2% Fibonacci retracement at 1.1659. […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1276, 1.1185, 1.0970 Resistance:1.1533, 1.1659, 1.1832 The Euro continues to stall having carved out a bottom against the US Dollar as expected after showing a bullish Morning Star candle pattern. Near-term resistance is at 1.1533, the February 3 high, with a break above that on a daily […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1276, 1.1185, 1.0970 Resistance:1.1533, 1.1659, 1.1832 The Euro remains in digestion mode after bottoming as expected against the US Dollar following the appearance of a bullish Morning Star candle pattern. A daily close above the February 3 high at 1.1533 exposes the 38.2% Fibonacci retracement at 1.1659. […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1276, 1.1185, 1.0970 Resistance:1.1533, 1.1659, 1.1832 The Euro is attempting a meek advance having carved out a bottom against the US Dollar as expected after showing a bullish Morning Star candle pattern. Near-term resistance is at 1.1533, the February 3 high, with a break above that on […]

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

By Ilya Spivak, EUR/USD Technical Strategy: Flat Support: 1.1276, 1.1185, 1.0970 Resistance:1.1533, 1.1659, 1.1832 The Euro remains in digestion mode after bottoming as expected against the US Dollar following the appearance of a bullish Morning Star candle pattern. A daily close above the February 3 high at 1.1533 exposes the 38.2% Fibonacci retracement at 1.1659. […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1318, 1.1185, 1.0970 Resistance:1.1533, 1.1659, 1.1832 The Euro is stalling after rising against the US Dollar as expected having produced a bullish Morning Star candlestick pattern. Near-term support is at 1.1318, the 14.6% Fibonacci expansion, with a break below that on a daily closing basis exposing the […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1318, 1.1185, 1.0970 Resistance:1.1533, 1.1659, 1.1832 The Euro remains in digestion mode after bottoming as expected against the US Dollar following the appearance of a bullish Morning Star candle pattern. A daily close above the February 3 high at 1.1533 exposes the 38.2% Fibonacci retracement at 1.1659. […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1318, 1.1185, 1.0970 Resistance:1.1533, 1.1659, 1.1832 The Euro is stalling after rising against the US Dollar as expected having produced a bullish Morning Star candlestick pattern. Near-term support is at 1.1318, the 14.6% Fibonacci expansion, with a break below that on a daily closing basis exposing the […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1318, 1.1185, 1.0970 Resistance:1.1533, 1.1659, 1.1832 The Euro turned higher against the US Dollar as expected after putting in a bullish Morning Star candlestick pattern. A daily close above the February 3 high at 1.1533 exposes the 38.2% Fibonacci retracement at 1.1659. Alternatively, a reversal below the […]

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