EUR/USD Technical Analysis 02.08.2013

DailyFX

EUR/USD Technical Analysis- Prices turned lower as expected after putting in a Bearish Engulfing candlestick pattern below resistance at 1.3643, the 100% Fibonacci expansion. Sellers are now testing below the 61.8% level at 1.3395, with a break exposing the 38.2% mark at 1.3242. Near-term resistance is at 1.3494, the 76.4% Fib.

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Forex_EURUSD_Technical_Analysis_02.08.2013_body_Picture_1.png, EUR/USD Technical Analysis 02.08.2013

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

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