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Forex pairs in this Article » EUR/USD
EUR/USD Technical AnalysisPrices put in a bearish Dark Cloud Cover candlestick pattern below resistance in the 1.3416-51 area, marked by the June 19 high and the 38.2% Fibonacci expansion. The setup hints a move lower is ahead. Negative RSI divergence bolsters the case for a downside scenario. Near-term support is at 1.3286, the 23.6% Fib retracement, with a break below that targeting the 38.2% level at 1.3185. Alternatively, a move above resistance eyes the 50% expansion at 1.3527.

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dailyclassics_eur-usd_body_Picture_2.png, Forex: EUR/USD Technical Analysis – Double Top in the Works?Daily Chart - Created Using FXCM Marketscope 2.0

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

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