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Forex: EUR/USD Technical Analysis – Double Top in the Works?

Forex: EUR/USD Technical Analysis – Double Top in the Works?

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices are testing resistance at 1.3679 (38.2% Fib); a break targets 1.3710 (Feb high)
  • Negative RSI divergence warns a move lower may be ahead
  • Initial support at 1.3638 (Feb 1 close); below that eyes 1.3600 (23.6% Fib)

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

dailyclassics_eur-usd_body_Picture_4.png, Forex: EUR/USD Technical Analysis – Double Top in the Works?

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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