• 275 days Could Crypto Overtake Traditional Investment?
  • 280 days Americans Still Quitting Jobs At Record Pace
  • 281 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 285 days Is The Dollar Too Strong?
  • 285 days Big Tech Disappoints Investors on Earnings Calls
  • 286 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 287 days China Is Quietly Trying To Distance Itself From Russia
  • 288 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 292 days Crypto Investors Won Big In 2021
  • 292 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 293 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 295 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 296 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 299 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 300 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 300 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 302 days Are NFTs About To Take Over Gaming?
  • 303 days Europe’s Economy Is On The Brink As Putin’s War Escalates
  • 306 days What’s Causing Inflation In The United States?
  • 307 days Intel Joins Russian Exodus as Chip Shortage Digs In
  1. Home
  2. Markets
  3. Other

EUR/USD: Significant Top Likely In Place

EUR/USD declined sharply yesterday, breaking both the key support at 1.3651 and the shortterm rising trendline. A further decline towards the strong support area defined by 1.3462 and the rising channel (see also the 38.2% retracement) is expected. Hourly resistances can be found at 1.3656 (intraday high) and 1.3716 (intraday high).

In the longer term, the sharp decline below the support at 1.3651 from deep overbought conditions suggests that a significant top has likely been made at 1.3832 (25/10/2013 high). A break of the strong support at 1.3462 (see also the rising channel) would confirm the start of a new phase of weakness.

Daily Technical Report


Read the Report

Back to homepage

Leave a comment

Leave a comment