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Chart Of The Day For May 29th,2015 – EUR/USD

Talking Points:

  • EUR/USD Technical Strategy: Flat
  • Support: 1.0804, 1.0647, 1.0394
  • Resistance:1.0930, 1.1056, 1.1213

The Euro may be preparing to turn higher against the US Dollar following the appearance of a bullish Morning Star candlestick pattern. A daily close above the 14.6% Fibonacci expansion at 1.0956 exposes the 23.6% threshold at 1.1042. Otherwise, a turn below the 61.8% level of an alternate Fib expansion setup at 1.0804 opens the door for a challenge of the 76.4% barrier at 1.0647.

Ourlong-term outlook calls for broad-based Euro weakness. With that in mind, we will treat any on-coming gains as corrective and wait for the move higher to offer a selling opportunity. In the meantime, we will remain on the sidelines.

EUR/USD Technical Analysis: Euro Recovery Signaled Ahead

Chart Of The Day For May 28th,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0804, 1.0647, 1.0394 Resistance:1.0930, 1.1056, 1.1213 The Euro paused to digest losses above the 1.08 figure against the US Dollar having turned lower as expected. Near-term support is at 1.0804, the 61.8% Fibonacci expansion, with a break below that exposing the 76.4% level at 1.0647. […]

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

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0804, 1.0647, 1.0394 Resistance:1.0930, 1.1056, 1.1213 The Euro declined against the US Dollar as expected after negative RSI divergence hinted at ebbing upside momentum. A daily close below the 61.8% Fibonacci expansion at 1.0804 exposes the 76.4% level at 1.0647. Alternatively, a turn above the […]

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

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0934, 1.0808, 1.0653 Resistance:1.1059, 1.1214, 1.1310 The Euro turned lower against the US Dollar as expected after negative RSI divergence pointed to fading upside momentum. Near-term support is at 1.0934, the 50% Fibonacci expansion, with a break below that exposing the 61.8% level at 1.0808. […]

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

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1059, 1.0934, 1.0808 Resistance:1.1214, 1.1310, 1.1466 The Euro turned lower against the US Dollar as expected but an Inverted Hammer candlestick now hints a rebound may be brewing. Near-term resistance is at 1.1214, the 23.6% Fibonacci expansion, with a break above that on a daily […]

Chart Of The Day For May 21st,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1059, 1.0934, 1.0808 Resistance:1.1214, 1.1310, 1.1466 The Euro declined against the US Dollar as expected after negative RSI divergence hinted at ebbing upside momentum. A daily close below the 38.2% Fibonacci expansion at 1.1059 exposes the 50% level at 1.0934. Alternatively, a turn above the […]

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

By Ilya Spivak,  Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1104, 1.0992, 1.0881 Resistance:1.1242, 1.1327, 1.1466 The Euro turned lower against the US Dollar as expected, with sellers now threatening to push through the 1.11 figure. Near-term support is at 1.1104, the 38.2% Fibonacci retracement, with a break below that on a daily closing basis […]

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

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1242, 1.1104, 1.0992 Resistance:1.1327, 1.1463, 1.1565 The Euro declined against the US Dollar as expected after negative RSI divergence hinted at ebbing upside momentum. A daily close below the 23.6% Fibonacci retracement at 1.1242 exposes the 38.2% level at 1.1104. Alternatively, a turn above the […]

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

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1335, 1.1257, 1.1130 Resistance:1.1463, 1.1565, 1.1668 The Euro advanced for a fourth consecutive day, hitting the highest level in over three months against the US Dollar. Near-term resistance is at 1.1463, the 38.2% Fibonacci expansion, with a break above that on a daily closing basis […]

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

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1335, 1.1257, 1.1130 Resistance:1.1463, 1.1565, 1.1668 The Euro continues to push upward, issuing the strongest close in three months against the US Dollar. A daily close above the 38.2% Fibonacci expansionat 1.1463 exposes the 50% level at 1.1565. Alternatively, a turn below the 23.6% Fib […]

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

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1335, 1.1257, 1.1130 Resistance:1.1463, 1.1565, 1.1668 The Euro is testing the highest level in three months against the US Dollar, with prices now eyeing resistance above the 1.14 figure. Near-term resistance is at 1.1463, the 38.2% Fibonacci expansion, with a break above that on a […]

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

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1040, 1.0955, 1.0852 Resistance:1.1257, 1.1335, 1.1463 The Euro may be carving out a top against the US Dollar after putting in a bearish Three Inside Down candlestick pattern. A daily close below the 1.1040-96 area exposes the 50% Fibonacci retracement at 1.0955. Alternatively, a turn […]

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

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1040, 1.0955, 1.0852 Resistance:1.1185, 1.1263, 1.1359 The Euro may be readying to resume its down trend against the US Dollar following the formation of a bearish Three Inside Down candlestick pattern. Near-term support is in the 1.1040-96 area, with a break below that on a […]

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

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1247, 1.1178, 1.1040 Resistance:1.1359, 1.1450, 1.1541 The Euro stumbled after extending to the highest level in over two months just below the 1.14 figure against the US Dollar. A daily close below the 23.6% Fibonacci expansion at 1.1247 exposes the 14.6% level at 1.1178. Alternatively, […]

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

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1247, 1.1178, 1.1040 Resistance:1.1359, 1.1450, 1.1541 The Euro stumbled after extending to the highest level in over two months just below the 1.14 figure against the US Dollar. A daily close below the 23.6% Fibonacci expansion at 1.1247 exposes the 14.6% level at 1.1178. Alternatively, […]

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

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1247, 1.1178, 1.1040 Resistance:1.1359, 1.1450, 1.1541 The Euro continued to recover against the US Dollar after a brief pause to consolidate, with buyers securing a foothold above the 1.13 figure. Near-term resistance is at 1.1359, the 38.2% Fibonacci expansion, with a break above that on […]

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

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Short at 1.1148 Support: 1.0982, 1.0793, 1.0487 Resistance:1.1271, 1.1517, 1.1766 The Euro put in a bearish Evening Star candlestick pattern, hinting a move lower against the US Dollar may be in the cards. A daily close below the 14.6% Fibonacci expansion at 1.0982 exposes the 23.6% level […]

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

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Short at 1.1148 Support: 1.0982, 1.0793, 1.0487 Resistance:1.1271, 1.1517, 1.1766 The Euro put in a bearish Evening Star candlestick pattern, hinting a move lower against the US Dollar may be in the cards. A daily close below the 14.6% Fibonacci expansion at 1.0982 exposes the 23.6% level […]

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

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.0959, 1.0712, 1.0461 Resistance:1.1266, 1.1515, 1.1764 The Euro paused to digest gains after rebounding as expected against the US Dollar after showing a bullish Morning Star candlestick pattern. Near-term resistance is at 1.1266, the 38.2% Fibonacci retracement, with a break above that on a daily […]

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

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1040, 1.0712, 1.0461 Resistance:1.1266, 1.1515, 1.1764 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 38.2% Fibonacci retracementat 1.1266 exposes the 50% level at 1.1515. Alternatively, a reversal below […]

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