EUR/USD Technical Analysis – Prices are showing a Harami candlestick pattern below resistance at 1.3260, the 76.4% Fibonacci retracement, hinting a reversal lower may be ahead. Confirmation requires a daily close below initial support at 1.3163, the 61.8% level, a move that would expose the 50% Fib at 1.3085 as the next downside objective. Alternatively, a move above resistance eyes the June 19 high at 1.3416.
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
To be added to Ilya's e-mail distribution list, please CLICK HERE
New to FX? Watch this Video. For live market updates, visit the Real Time News Feed
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.