EURUSD tanks, loses 90 pips (-0.75%) within a single day


EUR/USD (EURUSD) Technical Analysis Report for May 15, 2018 [1 min read]
Highlights
EURUSD crashes, loses 90 pips (-0.75%) within a single day
EURUSD dominated by bears dragging the market lower throughout the day
EURUSD finds buyers at key support level
EURUSD closes lower for the 2nd day in a row
EURUSD ends the day on a bearish note closing near the low of the day
TQ Sentiment
Report Sentiment: 57% Bearish
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, EURUSD ended Tuesday at 1.1837 tanking 90 pips (-0.75%). This is the biggest single day loss in over a month. Today's closing price of 1.1837 marks the lowest close since December 18, 2017. The bears were in full control today, moving the market lower throughout the whole session. Closing below Monday's low at 1.1926, the market confirms its breakout through the previous session's low having traded 106 pips below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for EURUSD
Volatility

Tuesday's trading range was 119 pips (1.0%), that's far above last trading month's daily average range of 85 pips. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way above average.

Support/Resistance

After trading as low as 1.1820 during the day, the FX pair bounced off the key support level at 1.1822. The failure to close below the support could increase that levels importance as support going forward.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Conclusion

Even though both sentiments are bearish for the next trading day, the classical technical analysis metrics are only slightly bearish while our quantitative statistics show a bearish sentiment.

Market Conditions for EUR/USD
ConditionForecastDirectionWinAvgWorstBestEvents
Close near high of period TQ Pro Members Only
Takuri Line TQ Pro Members Only
High close to previous High TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bullish Bounce off SMA 20 TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when EUR/USD traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup

Currencies Top Movers

NKY 22,597.35409.39 1.85%
BTCUSD 6,274.1356.95 0.92%
ETHUSD 433.743.40 0.79%
DAX 12,540.7347.76 0.38%
INDU 25,019.4194.52 0.38%
DXY 94.500-0.065 -0.07%
USDJPY 112.36-0.17 -0.15%
GOLD 1,241.8-5.9 -0.47%
NATGAS 2.758-0.042 -1.50%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Currencies

USDJPY 10 day candlestick chart for USDJPY112.36 -0.17
-0.15%
GBPUSD 10 day candlestick chart for GBPUSD1.3236 0.0032
0.24%
AUDUSD 10 day candlestick chart for AUDUSD0.7423 0.0015
0.20%
USDCAD 10 day candlestick chart for USDCAD1.3155 0.0000
0.00%
NZDUSD 10 day candlestick chart for NZDUSD0.6769 -0.0011
-0.16%
USDCHF 10 day candlestick chart for USDCHF1.0015 -0.0008
-0.08%
EURJPY 10 day candlestick chart for EURJPY131.30 -0.03
-0.02%
GBPJPY 10 day candlestick chart for GBPJPY148.69 0.08
0.05%
AUDJPY 10 day candlestick chart for AUDJPY83.42 0.06
0.07%
EURUSD 10 day candlestick chart for EURUSD1.1686 0.0014
0.12%