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EUR/USD Technical Analysis: Early Reversal Signs Emerge

EUR/USD Technical Analysis: Early Reversal Signs Emerge

2013-07-25 04:15:00
Ilya Spivak, Head Strategist, APAC
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EUR/USD Technical AnalysisPrices are showing a Harami candlestick pattern below resistance at 1.3260, the 76.4% Fibonacci retracement, hinting a reversal lower may be ahead. Confirmation requires a daily close below initial support at 1.3163, the 61.8% level, a move that would expose the 50% Fib at 1.3085 as the next downside objective. Alternatively, a move above resistance eyes the June 19 high at 1.3416.

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_eur-usd_body_Picture_2.png, EUR/USD Technical Analysis: Early Reversal Signs Emerge

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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