Forex: EUR/USD Technical Analysis – Channel Bottom in Sight

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Talking Points

  • Prices fell as expected, expanding a Harami candle pattern into an Evening Star setup
  • A daily close below 1.3553 (38.2% Fib) exposes 1.3468 (50% Fib, channel bottom)
  • Resistance is at 1.3660 (23.6% Fib); above that eyes 1.3831 (Oct 25 high)

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dailyclassics_eur-usd_body_Picture_12.png, Forex: EUR/USD Technical Analysis – Channel Bottom in Sight

Daily Chart - Created Using FXCM Marketscope 2.0

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

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