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Chart Of The Day For April 24rd,2015 – EUR/USD

Talking Points:

  • EUR/USD Technical Strategy: Flat
  • Support: 1.0712, 1.0461, 1.0246
  • Resistance:1.1040, 1.1266, 1.1515

The Euro is trying to mount a recovery against the US Dollar as expected after showing a bullish Morning Star candlestick pattern. Near-term resistance is at 1.1040, the March 18 high, with a break above that on a daily closing basis exposing the 38.2% Fibonacci retracement at 1.1266. Alternatively, a move back below the March 31 low at 1.0712 clears the way for a test of the 1.0461-1.0554 area (March 13 low, 23.6% Fibonacci expansion).

We see the Euro trend as broadly bearish, in line with our long-term outlook. As such, we will approach on-coming gains as corrective in the context of a larger structural decline and position for opportunities to enter short after the move higher is exhausted. In the meantime, we remain flat.

EUR/USD Technical Analysis: Rebound Finds Fuel Anew

 

Chart Of The Day For April 23rd,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0712, 1.0461, 1.0246 Resistance:1.1040, 1.1266, 1.1515 The Euro pushed higher against the US Dollar as expected following the appearance of a bullish Morning Star candlestick pattern. A daily close above the March 18 high at 1.1040 exposes the 38.2% Fibonacci retracement at 1.1266. Alternatively, a […]

Chart Of The Day For April 22th,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0712, 1.0461, 1.0246 Resistance:1.1040, 1.1266, 1.1515 The Euro is digesting gains against the US Dollar after rising as expected after showing a bullish Morning Star candlestick pattern. Near-term resistance is at 1.1040, the March 18 high, with a break above that on a daily closing […]

Chart Of The Day For April 21th,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0712, 1.0461, 1.0246 Resistance:1.1040, 1.1266, 1.1515 The Euro pushed higher against the US Dollar as expected following the appearance of a bullish Morning Star candlestick pattern. A daily close above the March 18 high at 1.1040 exposes the 38.2% Fibonacci retracement at 1.1266. Alternatively, a […]

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

By Ilya Spivak, EUR/USD Technical Strategy: Flat Support: 1.0712, 1.0461, 1.0246 Resistance:1.1040, 1.1266, 1.1515 The Euro advanced against the US Dollar as expected after prices put in a bullish Morning Star candlestick pattern. Near-term resistance is at 1.1040, the March 18 high, with a break above that on a daily closing basis exposing the 38.2% […]

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

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0712, 1.0461, 1.0246 Resistance:1.1040, 1.1266, 1.1515 The Euro pushed higher against the US Dollar as expected following the appearance of a bullish Morning Star candlestick pattern. A daily close above the March 18 high at 1.1040 exposes the 38.2% Fibonacci retracement at 1.1266. Alternatively, a […]

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

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0461, 1.0246, 0.9997 Resistance:1.0712, 1.0955, 1.1040 The Euro may be readying to turn higher against the US Dollar after prices put in a bullish Morning Star candlestick pattern. Near-term resistance is at 1.0712, the March 31 low, with a break above that on a daily […]

Chart Of The Day For April 15th,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0461, 1.0246, 0.9997 Resistance:1.0712, 1.0930, 1.1040 The Euro put in a bullish Morning Star candlestick pattern, hinting a move higher against the US Dollar may be ahead. A daily close above support-turned-resistance at 1.0712, the March 31 low, exposes a recently broken rising trend line […]

Chart Of The Day For April 14th,2015 – EUR/USD

By Ilya Spivak, EUR/USD Technical Strategy: Flat Support: 1.0456, 1.0386, 1.0229 Resistance:1.0640, 1.0868, 1.1040 The Euro declined for a sixth consecutive day against the US Dollar, with prices aiming to challenge February’s swing bottom. Near-term support is in the 1.0456-1.0513 area (March 16 low, 50% Fibonacci expansion), with a break below that on a daily […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.0456, 1.0386, 1.0229 Resistance:1.0640, 1.0868, 1.1040 The Euro continues to push lower against the US Dollar, with prices on pace to retest monthly lows below the 1.05 figure. A daily close below the 1.0456-1.0513 area (March 16 low, 50% Fibonacci expansion) exposes the 61.8% level at 1.0386. […]

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

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0640, 1.0456, 1.0386 Resistance:1.0868, 1.1040, 1.1122 The Euro accelerated lower against the US Dollar after producing a bearish Dark Cloud Cover candlestick pattern. Near-term support is at 1.0640, the 38.2% Fibonacci expansion, with a break below that on a daily closing basis exposing the 1.0456-1.0513 […]

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

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0712, 1.0640, 1.0513 Resistance:1.0868, 1.1040, 1.1122 The Euro looks poised to continue lower against the US Dollar after prices put in a bearish Dark Cloud Cover candlestick pattern. A daily close below trend line support at 1.0807 exposes the March 31 low at 1.0712. Alternatively, […]

Chart Of The Day For April 8th,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0807, 1.0712, 1.0640 Resistance:1.1040, 1.1122, 1.1279 The Euro put in a bearish Dark Cloud Cover candlestick pattern, hinting the down trend against the US Dollarmay be about to resume. A daily close below trend line support at 1.0807 exposes the March 31 low at 1.0712. […]

Chart Of The Day For April 7th,2015 – EUR/USD

By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0868, 1.0712, 1.0640 Resistance:1.1040, 1.1122, 1.1279 The Euro pulled back after testing above the 1.10 figure, snapping a three-day winning streak against the US Dollar. Near-term support is at 1.0868, the 38.2%Fibonacci retracement, with a break below that on a daily closing basis exposing the […]

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

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0868, 1.0712, 1.0640 Resistance:1.1040, 1.1122, 1.1279 The Euro advanced for three consecutive days, with prices positioned to challenge range resistance below 1.11 against the US Dollar anew. A daily close above the 1.0995-1.1040 area (50% Fibonacci retracement, March 18 high) exposes the 61.8% level at […]

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

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0640, 1.0456, 1.0386 Resistance:1.0797, 1.0894, 1.1051 The Euro paused to consolidate losses having declined against the US Dollar following the appearance of a Bearish Engulfing candlestick pattern. A daily close below the 38.2% Fibonacci expansionat 1.0640 exposes the 1.0456-1.0513 area (50% level, March 16 low). […]

Chart Of The Day For April 1st,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0640, 1.0456, 1.0386 Resistance:1.0797, 1.0894, 1.1051 The Euro is aiming at support below the 1.07 figure against the US Dollar after putting in a Bearish Engulfing candlestick pattern. Near-term support is at 1.0640, the 38.2% Fibonacci expansion, with a break below that on a daily […]

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

By Ilya Spivak, 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 […]

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 […]

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