EUR/USD Technical Analysis – Prices are showing a Harami candlestick pattern below resistance at 1.3260, the 76.4% Fibonacci retracement, hinting a reversal lower may be ahead. Confirmation requires a daily close below initial support at 1.3163, the 61.8% level, a move that would expose the 50% Fib at 1.3085 as the next downside objective. Alternatively, a move above resistance eyes the June 19 high at 1.3416.
Confirm your chart-based trade setups with the Technical Analyzer.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE