EUR/USD Technical Analysis- Prices put in a Bearish Engulfing candlestick pattern below resistance at 1.3643, the 100% Fibonacci expansion, and descended to support at the 76.4% level (1.3491). A break below that targets the 61.8% expansion at 1.3398. Alternatively, a reversal above resistance aims for the 123.6% Fib at 1.3798.
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
