Filed Under:
Forex pairs in this Article » EUR/USD
To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

  • EUR/USD Technical Strategy: Pending Short
  • Support: 1.3698 (Jan 14 high), 1.3613 (38.2% Fib exp.)
  • Resistance: 1.3767 (trend line), 1.3800 (double top)
The Euro was rejected downward at resistance in the 1.3767-1.38 area, marked by a falling trend line set from the October 2013 swing high and double top. Initial support is at 1.3674, the 23.6% Fibonacci expansion, with a break below that targeting the 38.2% level at 1.3613. Alternatively, a move above 1.38 broadly aims for the December 27 high at 1.3892.

We will continue to wait on the sidelines for now until a new short trade opportunity in line with our fundamental outlook presents itself after our previous attempt to sell the pair stopped out at breakeven.

Confirm your chart-based trade setups with the Technical Analyzer. New to FX? Start Here!

dailyclassics_eur-usd_body_Picture_12.png, Forex: EUR/USD Technical Analysis – Still Undecided Below 1.38Daily Chart - Created Using FXCM Marketscope 2.0



comments powered by Disqus
Trading Center