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EUR/USD Technical Analysis – Short Trade Under Pressure

By , Currency Strategist
27 November 2013 12:37 GMT

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Talking Points

  • Prices are testing resistance at 1.3590 (bottom of channel from early July)
  • A break higher initially exposes 1.3626 (61.8% Fib retracement)
  • Below 1.3563 (50% Fib) exposes 1.3499 (38.2% Fib ret.); we continue to hold short

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dailyclassics_eur-usd_body_Picture_12.png, EUR/USD Technical Analysis – Short Trade Under Pressure

Daily Chart - Created Using FXCM Marketscope 2.0

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

Contact and follow Ilya on Twitter: @IlyaSpivak

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27 November 2013 12:37 GMT