EUR/GBP Technical Analysis ? Euro Attempting to Recover
Here you can find all the latest breaking forex and currency news about EUR/GBP Technical Analysis ? Euro Attempting to Recover including currency analysis and forecasts, live foreign exchange rates, central bank interest rates, and currency trading strategies from experienced fx traders and forex platforms.
To receive Ilya's analysis directly via email, please SIGN UP HERE
Talking Points:
- EUR/GBP Technical Strategy: Flat
- Support: 0.8197 (Apr 22 low), 0.8187 (trend line)
- Resistance: 0.8245 (23.6% Fib ret.), 0.8274 (38.2% Fib ret.)
The Euro is attempting to launch a recovery against the British Pound after finding an interim bottom near the 0.82 figure. Near-term resistance is at 0.8245, the 23.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the 38.2% level at 0.8274. Near-term support is at 0.8197, the April 22 low, followed by a falling trend line set from late March (now at 0.8187).
Risk/reward considerations argue against taking a long position with prices trading in close proximity to relevant resistance. We will remain on the sidelines for the time being, waiting for a more attractive setup to present itself.
Confirm your chart-based trade setups with the Technical Analyzer. New to FX? Start Here!
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
original source
The article above is about breaking forex and currency news regarding EUR/GBP Technical Analysis ? Euro Attempting to Recover, if you have any question about it. Please contact us by using the link below. Thanks for your patience.
- Japanese Yen Gains, Nikkei Falls as BOJ Leaves Policy Unchanged
- Chinese Business Sentiment Contracts for the First Time in 4 Months
- Dismal UK Retail Sales to Spur Another Test of GBP/USD Resilience
- Forex-Webinar:-FOMC-Minutes-Reinforce-Hike-Forecast
- Trading Video: Dollar Fails to Rally on Hawkish FOMC, Equities Rally
- Among Top Themes, Where is the Risk Most Potent: Fed Hike, China, EM?
- EUR/USD Technical Analysis: Looking to Short on Bounce
- US Dollar Declines as FOMC Minutes Bring Nothing New to the Table
- US DOLLAR Technical Analysis: USD Holds Support on FOMC Minutes
- WTI Crude Oil Price Forecast: What Now That $40bbl Broke?
- Fingertrp Scalping with James Stanley (Using Tradingview Charts)
- EUR/USD Risks Fresh Monthly Lows on Hawkish FOMC Minutes
- Analyst Pick - Kiwi & CAD in Focus
- Price & Time: USD/CAD ? It?s Showtime
- GBP/USD Ranges Ahead of FOMC Minutes
- President Xi Warns That China Faces Considerable Downward Pressure
- FOMC Minutes Later Today - USD Set for October 28 Redux
- Silver Price Is Targeting Its Yearly Low
- FTSE 100: Commodity Markets Wants to See The FTSE 100 at 6040
- DAX 30: Momentum Slows Down, FOMC Minutes on Tap
- US Dollar May Extend Gains as Fed Minutes Foreshadow Rate Hike
- Copper Surplus Faces Falling Premiums; Gold Slides before Fed Minutes
- China Real Estate Market Recovery Slows in October
- Traders Not as Confident of Fed Hike as Markets, Economists
- EUR/GBP Technical Analysis: Euro Drops to 3-Month Low
- Dollar Unmoved After China Treasury Holdings Hit a 7 Month Low
- Can Dollar Climb Continue After FOMC Forecast Shift?
- Dollar’s CPI Rally Lacking, Stall in Risk Raises Yen Crosses Appeal
- NZD/USD Technical Analysis: Short Trade Activated Sub-0.65
- Will the DAX Crack or Cower from Resistance?