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Forex: EUR/USD Technical Analysis – Key Trend Line Broken

Forex: EUR/USD Technical Analysis – Key Trend Line Broken

2014-01-03 04:33:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices moved lower as expected to test 1.3664 (38.2% Fibonacci expansion)
  • A break lower initially exposes 1.3593 (50% Fib exp.)
  • Resistance is at 1.3724 (rising trend line); we are holding short

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

dailyclassics_eur-usd_body_Picture_12.png, Forex: EUR/USD Technical Analysis – Key Trend Line Broken

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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