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Forex: EUR/USD Technical Analysis – Ready to Turn Lower?

Forex: EUR/USD Technical Analysis – Ready to Turn Lower?

2013-11-19 10:37:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • A Spinning Top candle at in the 1.3499-1.3529 area (38.2% Fib, channel bottom) hints at weakness
  • Below support is at 1.3421 (23.6% Fib) eyes 1.3294 (Nov 7 low); we’ve holding short
  • Breaking above resistance exposes 1.3563 (50% Fib retracement)

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

dailyclassics_eur-usd_body_Picture_12.png, Forex: EUR/USD Technical Analysis – Ready to Turn Lower?

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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