To receive Ilya’s analysis directly via email, please SIGN UP HERE
EUR/USD Technical Analysis – Prices 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 1.3321, a rising channel bottom. A break below that targets the 23.6% Fib retracement at 1.3286.
Confirm your chart-based trade setups with the Technical Analyzer.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak
New to FX? Watch this Video. For live market updates, visit the Real Time News Feed
Forex: EUR/USD Technical Analysis ? Double Top in the Works?
No comments:
Post a Comment