EUR/USD Technical Analysis: Topping Setup in Progress?
EUR/USD Technical Analysis – Prices are turning lower after putting in a bearish Dark Cloud Cover candlestick pattern below resistance in the 1.3416 area, the June 19 high. Falling trend line resistance-turned-support is at the 1.3300 figure, with a break lower exposing a rising channel bottom at 1.3257. This barrier is reinforced by the 23.6% Fibonacci expansion at 1.3244.
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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