"No warning can save people determined to grow suddently rich" - Lord Overstone

  • 57 mins Is It Wise To Trade The Trump Effect?
  • 2 hours The Tech That Telecom Giants Fear Most
  • 4 hours China’s EV Industry Is Booming
  • 6 hours How Will Gold React As North Korean Tensions Cool?
  • 7 hours Is This The Biggest Mining Opportunity Of 2018?
  • 22 hours China’s $33 Trillion Finance Industry Opens To Foreign Investment
  • 23 hours Is Bitcoin Cash Overbought?
  • 24 hours Financial Sector Reports Record Profits
  • 1 day Iran Bans Crypto Amid Currency Crisis
  • 1 day Markets On Edge As Treasury Yields Spike
  • 1 day Silver Pulls Back Following Breakout Week
  • 1 day Wells Fargo Receives Record-Breaking $1 Billion Fine
  • 1 day Market Sentiment Slips Ahead Of Tech Earning Reports
  • 2 days The Trillion Dollar Space Race
  • 3 days The FANG Stock Investors Should Avoid
  • 4 days Is This The Death Of The iPhone X?
  • 4 days Is London Still The Financial Capital Of The World?
  • 4 days Is Gold Staging A Comeback?
  • 4 days The $200 Million ‘Golden Parachute’ For Rupert Murdoch
  • 4 days Bitcoin’s Breakout Is Not As Bullish As it Seems
One Commodity Set To Soar On Russian Sanctions

One Commodity Set To Soar On Russian Sanctions

The recent sanctions on Russia's…

Tech Giants Rally Ahead Of Earnings Reports

Tech Giants Rally Ahead Of Earnings Reports

Earning season has just begun,…

MIG Bank

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

More Info

EUR/USD: Pausing After a Sharp Rise

EUR/USD has moved sideways after breaking the strong resistance at 1.3004. The current mild correction suggests a continued weak selling pressure. Short-term support is at 1.3022. The next strong horizontal resistance is at 1.3284 (see also down trendline).

The lack of base formation or sell-off suggests that the current strength in EUR is a rebound within an underlying downtrend. Given the resistances area between 1.3150 and 1.3491 (38.2% and 50% retracements of the decline from May 2011 to July 2012), we are waiting for signs of weakness to initiate a short EUR position.

Daily Technical Report

 

Read the Report

Back to homepage

Leave a comment

Leave a comment