Today is Sun, November 19, 2017 13:15:04 GMT
RSS Follow Us Follow us on Twitter Friend us on Facebook
Contributors Chart Of The Day For November 17th,2014 – EUR/USD

The Euro advanced against the US Dollar as expected after prices put in a bullish Piercing Line candlestick pattern. A daily close above the 38.2% Fibonacci retracementat 1.2559 exposes the intersection of a falling trend line and the 50% level at 1.2621. Alternatively, a reversal below the 23.6% Fib at 1.2482 opens the door for a test of the 14.6% retracement at 1.2434.

We sold EURUSD at 1.2710 in line with our long-term fundamental outlook subsequently booked profit on half of the position. The remainder of the trade is open to capture any further downside momentum with a stop-loss trailed to breakeven (1.2710).

EUR/USD Technical Analysis: Euro Hits Highest in 2 Weeks

Recent posts by DailyFX