Forex: EUR/USD Technical Analysis – Bounce Attempted at Support
EUR/USD Technical Analysis – Prices are rebounding from support at 1.3244, the 23.6% Fibonacci expansion, to retest the underside of a broken Rising Wedge chart formation (now at 1.3321). A break above that targets the June 19 high at 1.3416. Alternatively, a break below 1.3244 aims for the 38.2% Fib at 1.3147.
Confirm your chart-based trade setups with the Technical Analyzer.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE