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Forex: EUR/USD Technical Analysis – Double Top Looks Set

By , Currency Strategist
30 August 2013 09:31 GMT

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EUR/USD Technical Analysis

  • Prices declined as expected after putting in a bearish Dark Cloud Cover candlestick pattern
  • Break of support at 1.3286 (23.6% Fib) exposes the next downside barrier at 1.3185 (38.2% Fib)
  • A turn back above 1.3286 targets falling channel support-turned-resistance, now at 1.3347

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_eur-usd_body_Picture_2.png, Forex: EUR/USD Technical Analysis – Double Top Looks Set

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

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30 August 2013 09:31 GMT