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Forex: EUR/USD Technical Analysis – Trend Line Marks Support

Forex: EUR/USD Technical Analysis – Trend Line Marks Support

2014-01-08 07:51:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices moved lower as expected after showing a Bearish Engulfing candle pattern
  • Breaking below 1.3584 (trend line from Sep) eyes 1.3458 (38.2% Fib); we’re short
  • Above 1.3624-45 (23.6% Fib, Oct 3 high) targets 1.3741 (trend line from Nov)

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

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

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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