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Forex: EUR/USD Technical Analysis – Lifeline Found Sub-1.36

Forex: EUR/USD Technical Analysis – Lifeline Found Sub-1.36

2014-01-07 08:24:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices moved lower as expected after showing a Bearish Engulfing candle pattern
  • A break below 1.3594 (50% Fib) exposes 1.3523 (61.8% Fib); we’re holding short
  • Reversing above 1.3664 (38.2% Fib ret.) targets 1.3751 (23.6% Fib ret.)

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dailyclassics_eur-usd_body_Picture_12.png, Forex: EUR/USD Technical Analysis – Lifeline Found Sub-1.36

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

Contact and follow Ilya on Twitter: @IlyaSpivak

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