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EUR/USD Technical Analysis 04.18.2013

Ilya Spivak

EUR/USD Technical Analysis– Prices put in a Bearish Engulfing candlestick pattern below the 1.32 figure, hinting at further weakness ahead. Initial support is at 1.3026, the 38.2% Fibonacci retracement, with a break below that exposing the 50% level at 1.2972. We continue to hold long for now.

Forex_EURUSD_Technical_Analysis_04.18.2013_body_Picture_5.png, EUR/USD Technical Analysis 04.18.2013

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

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