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EUR/USD Technical Analysis 02.07.2013

EUR/USD Technical Analysis 02.07.2013

2013-02-07 12:38:00
Ilya Spivak, Head Strategist, APAC
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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.

Forex_EURUSD_Technical_Analysis_02.07.2013_body_Picture_1.png, EUR/USD Technical Analysis 02.07.2013

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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