EUR/USD Technical Analysis: Aiming Below 1.34 Threshold

By DailyFx | July 27, 2014 AAA

DailyFX.com -

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

  • EUR/USD Technical Strategy: Short at 1.3644
  • Support: 1.3396, 1.3324, 1.3208
  • Resistance:1.3454, 1.3502-12, 1.3583

The Euro fell as expected against the US Dollar after prices put in a bearish Evening Star candlestick pattern. Sellers are now eyeing support at 1.3396, the 61.8% Fibonacci expansion. A daily close below this boundary initially exposes the 76.4% level at 1.3324. Alternatively, a move back above the 50% Fib at 1.3454 opens the door for a test of the 1.3502-12 area, marked by the 38.2% expansion and the June 5 low.

We sold EURUSD at 1.3644 in line with our long-term fundamental outlook and have since booked profit on half of the position. The stop-loss on our remaining exposure has been moved to the breakeven level.

Add these technical levels directly to your charts with our Support/Resistance Wizard app!

EUR/USD Technical Analysis: Aiming Below 1.34 Threshold

Daily Chart - Created Using FXCM Marketscope 2.0

comments powered by Disqus
Related Forex Analysis
  1. EUR/USD keeps the 1.2650 area
    Forex News

    EUR/USD keeps the 1.2650 area

  2. SEB: EUR/USD temporary bounce from support - eFXnews
    Forex News

    SEB: EUR/USD temporary bounce from support - eFXnews

  3. US yields may soon be on the rise again - BTMU
    Forex News

    US yields may soon be on the rise again - BTMU

  4. Credit Agricole: EUR/USD sensitivity to risk appetite could return - eFXnews
    Forex News

    Credit Agricole: EUR/USD sensitivity to risk appetite could return - eFXnews

  5. EUR/USD Continues to Meander
    Investing

    EUR/USD Continues to Meander

Trading Center