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Forex: EUR/USD Technical Analysis – Euro Aiming Above 1.37

Forex: EUR/USD Technical Analysis – Euro Aiming Above 1.37

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices moved lower as expected after showing a Bearish Engulfing candle pattern
  • Reversing above 1.3624-45 (23.6% Fib, Oct 3 high) has exposed 1.3771 (trend line)
  • Back below 1.3624 targets 1.3585 (trend line from Sep); we remain short

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

dailyclassics_eur-usd_body_Picture_12.png, Forex: EUR/USD Technical Analysis – Euro Aiming Above 1.37

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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