EUR/USD Technical Analysis – Waiting for Selling Opportunity

| 22 april, 2014 | 0 kommentarer

To receive Ilya’s analysis directly via email, please SIGN UP HERE

Talking Points:

  • EUR/USD Technical Strategy: Pending Short
  • Support: 1.3835 (23.6% Fib exp.), 1.3793 (38.2% Fib exp.)
  • Resistance: 1.3905 (Apr 11 high)

The Euro remains in consolidation mode against the US Dollar, with prices waiting for a clear-cut directional catalyst near the 1.38 figure. A daily close below the 38.2% Fibonacci expansion 1.3793 initially exposes the 50% level at 1.3758. The first layer of significant resistance is at 1.3905, the April 11 high.

Our long-term fundamental outlook calls for a weaker Euro but taking a short here is unattractive from a risk/reward perspective given the pair’s proximity to near-term support. As such, we will remain on the sidelines for the time being and wait for a more actionable selling opportunity to presents itself.

Confirm your chart-based trade setups with the Technical Analyzer. New to FX? Start Here!

EUR/USD Technical Analysis  Waiting for Selling Opportunity

Daily Chart – Created Using FXCM Marketscope 2.0

— Written by Ilya Spivak, Currency Strategist for DailyFX.com

Taggar: ,

Kategori: Analys från DailyFX

Om skribenten ()

DailyFX från FXCM ger dig dagligen färska tekniska analyser på valuta och råvaror. FXCM är en ledande handelsplattform för trading av finansiella tillgångar med kraftfulla verktyg för alla sorters handel.

Lämna ett svar

Din e-postadress kommer inte publiceras. Obligatoriska fält är märkta *