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

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

2013-12-11 10:49:00
Ilya Spivak, Sr. Currency Strategist
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Talking Points

  • A Shooting Star below rising channel resistance hints at a pullback ahead
  • Breaking below 1.3706 (38.2% Fib exp.) exposes 1.3623 (channel bottom)
  • Pushing through the channel top (1.3772) initially targets 1.3833 (50% Fib exp.)

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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