Today is Fri, October 10, 2014 6:47:50 GMT
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Forex Chart of the Day

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

  • EUR/USD Technical Strategy: Flat
  • Support: 1.2703, 1.2673, 1.2633
  • Resistance:1.2777, 1.2848, 1.2955

The Euro recovered against US Dollar as expected after putting in a bullish Piercing Line candlestick pattern. A daily close above support-turned-resistance at 1.2777, the March 2013 bottom, exposes the 38.2% Fibonacci retracement at 1.2848. Alternatively, a turn below the 1.2703-15 area marked by the November 2012 floor and the 23.6% Fib clears the way for a challenge of trend line resistance-turned-support at 1.2673.

We sold EURUSD at 1.3644and have since booked profit on half of the position. We will now exit the rest of the trade and wait for new selling opportunities in line with our long-term fundamental outlook.

EUR/USD Technical Analysis: Profits Booked on Short Position

 

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

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2500, 1.2377, 1.2278 Resistance:1.2703, 1.2777, 1.2848 The Euro may have formed an interim bottom against the US Dollar after producing a bullish Piercing Line candlestick pattern. Near-term resistance is at 1.2703, the intersection of the November 2012 bottom and a falling trend line, with a break above that on a daily closing basis […]

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

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2500, 1.2377, 1.2278 Resistance:1.2703, 1.2777, 1.2848 The Euro may be readying a rebound against the US Dollar after prices put in a bullish Piercing Line candlestick pattern. A daily close above support-turned-resistance at 1.2703, the November 2012 bottom, exposes the March 2013 floor at 1.2777. Alternatively, a drop below the 23.6% Fib expansion […]

Chart Of The Day For October 6th,2014 – EUR/USD

By Ilya Spivak, EUR/USD Technical Strategy: Short at1.3644 Support: 1.2500, 1.2377, 1.2278 Resistance:1.2575, 1.2698, 1.2754 The Euro sank to the weakest level in over 2 years to test the 1.25 figure against the US Dollar. Near-term support is at 1.2500, the 23.6% Fibonacci expansion, with a break below that on a daily closing basis exposing the 38.2% level at 1.2377. Alternatively, […]

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

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2602, 1.2532, 1.2445 Resistance:1.2673, 1.2760, 1.2858 The Euro may be preparing to launch a recovery against the US Dollar after prices put in a bullish Morning Star candlestick pattern. A daily close above the 1.2659-73 area marked by the November 2012 low and the 38.2% Fibonacci expansion exposes the 1.2754-60 zone bracketed by […]

Chart Of The Day For October 2nd,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2602, 1.2532, 1.2445 Resistance:1.2673, 1.2760, 1.2858 The Euro put in a Hammer candlestick, hinting a bounce against the US Dollar may be around the corner. Near-term resistance is in the 1.2659-73 area marked by the November 2012 low and the 38.2% Fibonacci expansion, with a break above that exposing the 1.2754-60 zone bracketed […]

Chart Of The Day For October 1st,2014-EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2602, 1.2532, 1.2445 Resistance:1.2673, 1.2760, 1.2796 Euro selling pressure swiftly returned after a brief respite, with prices sliding to the lowest level in over two years. A daily close below the 50% Fibonacci expansion at 1.2602 exposes the 61.8% level at 1.2532. Alternatively, a move above the 1.2659-73 area marked […]

Chart Of The Day For September 30th,2014-EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2659, 1.2602, 1.2532 Resistance:1.2760, 1.2813, 1.2900 The Euro marked time to digest losses after four consecutive days of selling against the US Dollar. Near-term support is in the 1.2659-73 area, marked by the November 2012 low and the 38.2% Fibonacci expansion. A break below that on a daily closing basis exposes the […]

Chart Of The Day For September 29th,2014-EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2659, 1.2602, 1.2532 Resistance:1.2760, 1.2813, 1.2900 The Euro continues to face heavy selling pressure, with prices now approaching the weakest levels in close to two years against the US Dollar. A daily close below the 1.2659-73 area marked by the November 2012 low and the 38.2% Fibonacci expansion exposes the 50% level […]

Chart Of The Day For September 26th,2014-EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2754, 1.2673, 1.2602 Resistance:1.2813, 1.2900, 1.2994 The Euro raced downward to tag a 14-month low against the US Dollar, losing its foothold above the 1.28 figure. Near-term support is in the 1.2754-60 area marked by the July 2013 low and the 38.2% Fibonacci expansion. A break below that on a daily closing […]

Chart Of The Day For September 25th,2014-EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2754, 1.2673, 1.2602 Resistance:1.2813, 1.2900, 1.2994  The Euro raced downward to tag a 14-month low against the US Dollar, losing its foothold above the 1.28 figure. Near-term support is in the 1.2754-60 area marked by the July 2013 low and the 38.2% Fibonacci expansion. A break below that on a daily closing […]

Chart Of The Day For September 24th,2014-EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2783, 1.2718, 1.2653 Resistance:1.2864, 1.2913, 1.2994 The Euro looks vulnerable to continued selling against the US Dollar, with prices poised to test below the 1.28 figure. A daily close below the 38.2% Fibonacci expansionat 1.2783 exposes the 50% level at 1.2718. Alternatively, reversal above the 23.6% Fib at 1.2864 opens the door […]

Chart Of The Day For September 23th,2014-EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2783, 1.2718, 1.2653 Resistance:1.2864, 1.2913, 1.2994 The Euro slid to the lowest level in nearly 15 months against the US Dollar, with sellers now aiming below the 1.28 figure. Near-term support is at 1.2783, the 38.2% Fibonacci expansion, with a break beneath that on a daily closing basis exposing the 50% level […]

Chart Of The Day For September 22nd,2014 -EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2858, 1.2796, 1.2673 Resistance:1.2951, 1.2994, 1.3074 The Euro may correct higher against the US Dollar after forming a bullish Piercing Line candle pattern coupled with positive RSI divergence. A daily close above trend line resistance at 1.2951 exposes the September 16 high at 1.2994. Alternatively, reversal below above the 1.2858-71 area marked by […]

Chart Of The Day For September 19th,2014-EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2858, 1.2796, 1.2673 Resistance:1.2951, 1.2994, 1.3074 The Euro may correct higher against the US Dollar after forming a bullish Piercing Line candle pattern coupled with positive RSI divergence. A daily close above trend line resistance at 1.2951 exposes the September 16 high at 1.2994. Alternatively, reversal below above the 1.2858-71 area marked by […]

Chart Of The Day For September 18th,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2858, 1.2796, 1.2673 Resistance:1.2994, 1.3081, 1.3159 The Euro turned sharply lower against the US Dollar once again in the aftermath of the FOMC monetary policy announcement. Near-term support is in the 1.2858-71 area, marked by the September 9 low and the 14.6% Fibonacci expansion. A daily close below that exposes the 23.6% level at 1.2796. Alternatively, […]

Chart Of The Day For September 17,2014-EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2864, 1.2794, 1.2708 Resistance:1.2981, 1.3057, 1.3104 The Euro is edging higher against the US Dollar as expected after producing a bullish Piercing Line candlestick pattern. A daily close above the 14.6% Fibonacci retracementat 1.2981 exposes the 23.6% level at 1.3057. Alternatively, a turn below the 50% Fib expansion at 1.2864 opens the door for a test […]

Chart Of The Day For September 16th,2014-EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2864, 1.2794, 1.2708 Resistance:1.2981, 1.3057, 1.3104 The Euro may be preparing to correct higher against the US Dollar after prices completed a bullish Piercing Line candlestick pattern. Near-term resistance is at 1.2981, the 14.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the 23.6% level at 1.3057. Alternatively, a […]

Chart Of The Day For September 15th,2014-EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2864, 1.2794, 1.2708 Resistance:1.2981, 1.3057, 1.3104  The Euro may be carving out a near-term bottom against the US Dollar after producing a bullish Piercing Line candlestick pattern. A daily close above the 14.6% Fibonacci retracementat 1.2981 exposes the 23.6% level at 1.3057. Alternatively, a turn below the 50% Fib expansion at 1.2864 opens the […]

Chart Of The Day For September 12th ,2014- EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at1.3644 Support: 1.2864, 1.2794, 1.2708 Resistance:1.2981, 1.3057, 1.3104 The Euro may be preparing to correct higher against the US Dollar after prices completed a bullish Piercing Line candlestick pattern. Near-term resistance is at 1.2981, the 14.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the 23.6% level at 1.3057. Alternatively, a […]

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