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Talking Points

  • Prices are testing resistance at 1.3590 (bottom of channel from early July)
  • A break higher initially exposes 1.3626 (61.8% Fib retracement)
  • Below 1.3563 (50% Fib) exposes 1.3499 (38.2% Fib ret.); we continue to hold short

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

dailyclassics_eur-usd_body_Picture_12.png, EUR/USD Technical Analysis – Short Trade Under Pressure

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

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