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Forex: EUR/USD Technical Analysis – Spike Fails to Hold 1.38 Mark

Forex: EUR/USD Technical Analysis – Spike Fails to Hold 1.38 Mark

2013-12-30 06:57:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices fell as expected having shown a Bearish Engulfing candle pattern; we are short
  • Above resistance in the 1.3762-76 (23.6% Fib, trend line) exposes 1.3821 (38.2% Fib)
  • Below support at 1.3680 (trend line) targets 1.3624 (Dec 20 swing low)

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

dailyclassics_eur-usd_body_Picture_12.png, Forex: EUR/USD Technical Analysis – Spike Fails to Hold 1.38 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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