EUR/USD Moves to Test June Top


EUR/USD Technical Strategy: Flat

Our EURUSD short position from 1.3270 was stopped out as prices took out resistance at a falling trend line set from February to expose the 38.2% Fibonacci expansion at 1.3412. A further push above that targets the 50% level at 1.3482. Alternatively, a move back below the trend line (now at 1.3304) eyes the August 2 low at 1.3187. Current positioning does not offer an attractive re-entry opportunity and we will stand aside for now.

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

View photo

Forex_Strategy_EURUSD_Moves_to_Test_June_Top_body_Picture_5.png, EUR/USD Moves to Test June Top

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, e-mail Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

View Comments (0)