Forex: EUR/USD Technical Analysis – Consolidating Sub-1.37 Mark
To receive Ilya's analysis directly via email, please SIGN UP HERE
- Prices fell as expected after forming a Bearish Engulfing candle pattern; we remain short
- Support is at 1.3613 (38.2% Fib); breaking below that exposes 1.3552 (50% Fib)
- Resistance is at 1.3737 (trend line); above that aims for the 1.3801-31 area
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.