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Forex: EUR/USD Technical Analysis – Consolidating Sub-1.37 Mark

Forex: EUR/USD Technical Analysis – Consolidating Sub-1.37 Mark

2013-12-24 10:57:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • 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.

dailyclassics_eur-usd_body_Picture_12.png, Forex: EUR/USD Technical Analysis – Consolidating Sub-1.37 Mark

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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