Forex: EUR/USD Technical Analysis – Rejected at Channel Bottom
To receive Ilya's analysis directly via email, please SIGN UP HERE
- Prices found interim support at 1.3420 (38.2% Fib) and are attempting to bounce
- Near-term resistance is in the 1.3561-77 area (rising channel bottom, 23.6% Fib)
- Breaking below 1.3420 exposes 1.3293 (50% Fib); we continue to hold short
Confirm your chart-based trade setups with the Technical Analyzer.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
Contact and follow Ilya on Twitter: @IlyaSpivak
New to FX? START HERE
For live market updates, visit the Real Time News Feed
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.