Forex: EUR/USD Technical Analysis – Recovering Toward 1.35 Mark
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- Prices declined as expected after putting in Bearish Engulfing candlestick pattern
- Breaking support at 1.3420 (38.2% Fib) exposes 1.3293 (50% Fib); we’ve entered short
- Resistance is in the 1.3419-61 area (38.2% Fib, Sep 25 low); above that eyes 1.3498 (channel)
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
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