Trade FOREX with FXCM

  • Award-Winning Platform
  • 24/7 Customer Support
  • Trade Directly on Charts
  • Free $50K Practice Account

Resources

EUR/USD Technical Analysis 02.26.2013

By , Currency Strategist
26 February 2013 14:03 GMT

EUR/USD Technical Analysis– Prices turned lower as expected after putting in a Bearish Engulfing candlestick pattern. Sellers are now testing the 61.8% Fibonacci retracement at 1.3061, a barrier reinforced by falling channel bottom. A break downward targets the 76.4% level at 1.2907. Near-term resistance is at 1.3185, the 50% Fib, and is followed by the channel top at 1.3827.

Forex_EURUSD_Technical_Analysis_02.26.2013_body_Picture_5.png, EUR/USD Technical Analysis 02.26.2013

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from

26 February 2013 14:03 GMT