EUR/USD Technical Analysis: Downward Reversal at Hand?

DailyFX

EUR/USD Technical AnalysisPrices are pulling back from resistance at a falling trend line set from February, with a break below initial upward-sloping support (1.3262) exposing the 23.6% Fibonacci expansion at 1.3188. Alternatively, a reversal above resistance (now at 1.3325) exposes the June 18 high a 1.3416.

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

View photo

.
dailyclassics_eur-usd_body_Picture_2.png, EUR/USD Technical Analysis: Downward Reversal at Hand?

Daily Chart - Created Using FXCM Marketscope 2.0

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

To contact Ilya, e-mail ispivak@dailyfx.com. 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)