To receive Ilya's analysis directly via email, please SIGN UP HERE
- EUR/USD Technical Strategy: Flat
- Support: 1.3585 (May 29 low), 1.3502 (Jun 5 low)
- Resistance:1.3667 (23.6% Fib exp.), 1.3769 (38.2% Fib exp.)
The Euro continues to consolidate in a familiar range against the US Dollar after last week’s ECB-inspired fireworks failed to produce a breakout. Support is at 1.3585, the May 29 low. A break below that on a daily closing basis exposes the June 5 low at 1.3502, followed by the February 3 bottom at 1.3476. Near-term resistance is at 1.3667, the 23.6% Fibonacci expansion, with a break above that exposing the 38.2% level at 1.3769.
Our last short EURUSD position was fully unwound last week. We will monitor price action for a new selling opportunity in line with our long-term fundamental outlook from here.
Confirm your chart-based trade setups with the Technical Analyzer. New to FX? Start Here!
Daily Chart - Created Using FXCM Marketscope 2.0
Investing NewsChina’s forex reserves dropped by a record $93.9 billion at the end of August to $3.56 trillion because the Central Bank has been selling dollars to provide a cushion to the falling yuan
ForexAmid the rising economic power of India, the talks of making the Indian currency fully convertible are gaining momentum. We look at the pros and cons.
Forex FundamentalsAs the world's second largest economy, China's challenge to America’s dominance includes a push to make the yuan (RMB), the world’s reserve currency. Whether it can do that now is unclear.
EconomicsOne particular barrier to trade that has received much attention of late and caused delays in negotiations of the TPP is exchange-rate manipulation, by which a country artificially devalues its ...
ForexBreaking news moves forex markets. Here are the top U.S. sites for tracking forex news.
InvestingAccess to financial information has grown with the expansion of digital news. Bloomberg and Thomson Reuters lead the pack, claiming a majority of the business information market.
EconomicsSouth Korea is the latest country to cut interest rates in an attempt to stimulate economic growth.
Forex EducationPeer-to-peer (P2P) currency exchange networks offer a viable and cheaper alternative for buying and selling currencies.
ForexHere is a simple breakdown of how to open an offshore forex account for US-based users, including legal requirements.
EntrepreneurshipA brief overview of the top apps that help forex traders with on time information, charts and more.