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Forex: EUR/USD Technical Analysis – Ready to Turn Lower?

Ilya Spivak

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Talking Points

  • A Shooting Star candle below channel resistance hints at a turn lower ahead
  • Near-term support is at 1.3485 (23.6% Fib); below that aims for 1.3407 (38.2% Fib)
  • Resistance is in the 1.3600-12 (channel bottom, Nov 27 high); we continue to hold short

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

dailyclassics_eur-usd_body_Picture_2.png, Forex: EUR/USD Technical Analysis – Ready to Turn Lower?

Daily Chart - Created Using FXCM Marketscope 2.0

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

Contact and follow Ilya on Twitter: @IlyaSpivak


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