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EUR/USD Technical Analysis – Euro Selling Accelerating

EUR/USD Technical Analysis – Euro Selling Accelerating

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices are falling as expected after showing a Bearish Engulfing candlestick pattern
  • Near-term support is at 1.3518, the 23.6% Fibonacci retracement
  • Break lower exposes 1.3438 (38.2% Fib); initial resistance at 1.3645(Oct 3 high)

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

dailyclassics_eur-usd_body_Picture_2.png, EUR/USD Technical Analysis – Euro Selling Accelerating

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

Contact and follow Ilya on Twitter: @IlyaSpivak

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