EUR/USD Technical Analysis: 5-Month Trend Support in Focus

| 6 augusti, 2015 | 0 kommentarer

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

Talking Points:

  • EUR/USD Technical Strategy: Flat
  • Support: 1.0856, 1.0814, 1.0740
  • Resistance: 1.0980, 1.1037, 1.1128

The Euro is attempting a tepid recovery from five-month trend line support following an expected downswing against the US Dollar. A daily close below the 1.0856-88 area (trend line, 38.2% Fibonacci expansion) exposes the 1.0814-18 zone (50% level, May 27 low). Alternatively, a move above the 23.6% Fib at 1.0980 opens the door for a challenge of the 14.6% expansion at 1.1037.

Prices are too close to support to justify entering short in line with our long-term outlookfrom a risk/reward perspective. With that in mind, we will continue to stand aside until a more attractive opportunity presents itself.

Add these technical levels directly to your charts with our Support/Resistance Wizard app!

EUR/USD Technical Analysis: 5-Month Trend Support in Focus

— 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

E-postadressen publiceras inte. Obligatoriska fält är märkta *