Forex: EUR/USD Technical Analysis – Turn Lower Hinted Ahead
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- Bearish Engulfing candlestick pattern, negative RSI divergence warn of weakness ahead
- Initial support is at 1.3518, the 23.6% Fibonacci retracement
- Break lower exposes 1.3438 (38.2% Fib); initial resistance at 1.3645(October 3 high)
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
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