EURUSD: Preparing to Re-enter Short
Prices are testing below rising trend line support set from the January 16 low after putting in a Bearish Engulfing candlestick pattern below resitance at 1.3460. The boundary is reinforced by the 38.2% Fibonacci retracement at 1.3156. I will look for a daily close below the latter level to enter short.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.