EUR/USD Technical Analysis 02.08.2013
EUR/USD Technical Analysis- Prices turned lower as expected after putting in a Bearish Engulfing candlestick pattern below resistance at 1.3643, the 100% Fibonacci expansion. Sellers are now testing below the 61.8% level at 1.3395, with a break exposing the 38.2% mark at 1.3242. Near-term resistance is at 1.3494, the 76.4% Fib.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.