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Forex: EUR/USD Technical Analysis – Holding Above 1.35 Figure

Forex: EUR/USD Technical Analysis – Holding Above 1.35 Figure

2013-10-17 13:21:00
Ilya Spivak, Sr. Currency Strategist
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Talking Points

  • Prices moved lower 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_eurusd.png, Forex: EUR/USD Technical Analysis – Holding Above 1.35 Figure

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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