Forex: EUR/USD Technical Analysis – Support Now Below 1.33

Ilya Spivak

Mon, Nov 11, 2013, 6:07 AM

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Talking Points

Prices declined as expected after putting in Bearish Engulfing candlestick pattern
A break of support at 1.3420 (38.2% Fib) exposes 1.3293 (50% Fib)
Reversing back above 1.3420 eyes 1.3579 (channel bottom); we’ve entered short

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

dailyclassics_eur-usd_body_Picture_12.png, Forex: EUR/USD Technical Analysis – Support Now Below 1.33

Daily Chart - Created Using FXCM Marketscope 2.0

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

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