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Forex: EUR/USD Technical Analysis – Five-Month Support at Risk

Forex: EUR/USD Technical Analysis – Five-Month Support at Risk

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices fell as expectedafter showing a Shooting Star candle and we’restill short
  • Closing below 1.3545 (50% Fib exp., trend line) targets 1.3500 (61.8% Fib exp.)
  • Reversing above 1.3591 (38.2% Fib exp.) initially exposes 1.3647 (23.6% Fib exp.)

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

dailyclassics_eur-usd_body_Picture_12.png, Forex: EUR/USD Technical Analysis – Five-Month Support at Risk

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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