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

  • EUR/USD Technical Strategy: Flat
  • Support: 1.1311, 1.1096, 1.0958
  • Resistance:1.1444, 1.1659, 1.1832

The Euro may be readying to turn upward against the US Dollar after producing a bullish Morning Star candlestick pattern. Near-term resistance is at 1.1444, the intersection of the 23.6% Fibonacci retracement and a falling trend line, with a break above that on a daily closing basis targeting the 38.2% level at 1.1659. Alternatively, a turn below the 14.6% Fib at 1.1311 clears the way for a test of the January 26 low at 1.1096.

We expect any on-coming EURUSD strength to be corrective, in line with our long-term outlook. With that in mind, we will treat upside momentum as an opportunity to enter short at a more attractive level and remain on the sidelines in the interim.

EUR/USD Technical Analysis: Euro Recovery in the Cards?

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1123, 1.0992, 1.0830 Resistance:1.1254, 1.1416, 1.1516 The Euro paused to consolidate losses against the US Dollar after cautiously dipping below the 1.11 figure. A daily close below the 50% Fibonacci expansionat 1.1123 exposes the 61.8% level at 1.0992. Alternatively, a turn above the 38.2% Fib at 1.1254 […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1123, 1.0992, 1.0830 Resistance:1.1254, 1.1416, 1.1516 The Euro is working on clearing a path below the 1.10 figure against the US Dollar as prices dip to levels untouched since September 2003. Near-term support is at 1.1123, the 50% Fibonacci expansion, with a break below that on a […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1254, 1.1123, 1.0992 Resistance:1.1416, 1.1516, 1.1679 The Euro renewed its push downward against the US Dollar, issuing the largest daily decline since August 2010. A daily close below the 38.2% Fibonacci expansion at 1.1254 exposes the 50% level at 1.1123. Alternatively, a turn above the 23.6% Fib […]

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

By Ilya Spiva EUR/USD Technical Strategy: Flat Support: 1.1516, 1.1416, 1.1254 Resistance:1.1620, 1.1720, 1.1882 The Euro may see a recovery against the US Dollar after prices put in a Bullish Engulfing candlestick pattern. Near-term resistance is at 1.1620, the 14.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the 23.6% […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support:1.1558, 1.1462, 1.1366 Resistance:1.1620, 1.1720, 1.1882 The Euro may be readying to launch a recovery against the US Dollar after prices put in a bullish Piercing Line candlestick pattern. A daily close above the 14.6% Fibonacci retracement at 1.1620 exposes the 23.6% level at 1.1720. Alternatively, a turn […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support:1.1558, 1.1462, 1.1366 Resistance:1.1620, 1.1720, 1.1882 The Euro may be readying to launch a recovery against the US Dollar after prices put in a bullish Piercing Line candlestick pattern. A daily close above the 14.6% Fibonacci retracement at 1.1620 exposes the 23.6% level at 1.1720. Alternatively, a turn […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1462, 1.1366, 1.1247 Resistance:1.1558, 1.1677, 1.1751 The Euro continues to push downward against the US Dollar, with prices seemingly poised to probe below the 1.15 figure. Near-term support is at 1.1462, the 50% Fibonacci expansion, with a break below that on a daily closing basis exposing the […]

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

EUR/USD Technical Strategy: Flat Support: 1.1558, 1.1462, 1.1366 Resistance:1.1677, 1.1751, 1.1870 The Euro resumed its descent against the US Dollar, with prices now aiming at support below the 1.16 figure. A daily close below the 38.2% Fibonacci expansion at 1.1558 exposes the 50% level at 1.1462. Alternatively, a turn above the 23.6% Fib at 1.1677 […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1751, 1.1677, 1.1558 Resistance:1.1870, 1.2041, 1.2246 The Euro may be carving out a bottom against the US Dollar as positive RSI divergence warns of ebbing downside momentum. Near-term resistance is at 1.1870, the January 12 high, with a break above that on a daily closing high exposing […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1751, 1.1677, 1.1558 Resistance:1.1870, 1.2041, 1.2246 The Euro looks to have overturned bullish cues noted earlier in the week but positive RSI divergence warns a rebound may yet materialize. A daily close below the 14.6% Fibonacci expansion at 1.1751 exposes the 23.6% level at 1.1677. Alternatively, a […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1777, 1.1684, 1.1609 Resistance:1.1929, 1.2080, 1.2173 The Euro may be preparing to turn higher against the US Dollar after putting in a Bullish Engulfing candlestick pattern. Near-term resistance is at 1.1872, the 14.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1777, 1.1684, 1.1609 Resistance:1.1929, 1.2080, 1.2173 The Euro may have set a bottom against the US Dollar after producing a Bullish Engulfing candlestick pattern. A daily close above the 14.6% Fibonacci retracement at 1.1872 exposes the 23.6% level at 1.1946. Alternatively, a turn back below the 123.6% […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1777, 1.1684, 1.1609 Resistance:1.1929, 1.2080, 1.2173 The Euro is attempting to clear a path below the 1.17 figure against the US Dollar after recording a sixth consecutive daily decline. Near-term support is at 1.1777, the 123.6% Fibonacci expansion, with a break below that exposing the 138.2% level […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1777, 1.1684, 1.1609 Resistance:1.1929, 1.2080, 1.2173 The Euro fell for a fifth consecutive day to overcome a major multi-year support against the US Dollar. A daily close below the 123.6% Fibonacci expansion at 1.1777 exposes the 138.2 level at 1.1684. Alternatively, a turn back above the 1.1875-1.1929 […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1875, 1.1777, 1.1684 Resistance:1.2080, 1.2173, 1.2249 The Euro finds itself at a pivotal threshold against the US Dollar as prices probe below a major five-year low. Near-term support is in the 1.1875-1.1929 area, marked by the June 2010 low and the 100% Fibonacci expansion, with a break […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.1929, 1.1875, 1.1777 Resistance:1.2080, 1.2173, 1.2249 The Euro continues to face heavy pressure, with prices testing levels unseen since 2006 against the US Dollar. A daily close below the 100% Fibonacci expansion at 1.1929 exposes the June 2010 low at 1.1875, followed by the 123.6% level at […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.2136, 1.2080, 1.1929 Resistance:1.2173, 1.2249, 1.2324 The Euro continues to face heavy pressure, with prices dipping below the 1.19 figure against the US Dollar for the first time since 2006. A daily close below the 100% Fibonacci expansion at 1.1929 exposes the 123.6% level at 1.1777. Alternatively, […]

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.2136, 1.2080, 1.1929 Resistance:1.2173, 1.2249, 1.2324 The Euro has stalled after sinking to a 28-month low against the US Dollar, with prices waiting for a new directional catalyst. A daily close below falling trend line support at 1.2136 exposes the 76.4% Fibonacci expansion at 1.2080. Alternatively, a reversal above the 61.8% Fib at […]

Chart Of The Day For December 31st,2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.2136, 1.2080, 1.1929 Resistance:1.2173, 1.2249, 1.2324  The Euro has stalled after sinking to a 28-month low against the US Dollar, with prices waiting for a new directional catalyst. A daily close below falling trend line support at 1.2136 exposes the 76.4% Fibonacci expansion at 1.2080. Alternatively, a reversal above the 61.8% Fib at […]

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