Forex: EUR/USD Technical Analysis ? 1.32 Figure at Risk

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Talking Points

• 
  Prices declined as expected after putting in a bearish Dark Cloud Cover candlestick pattern
  


• 
  Break of support at 1.3185 (38.2% Fib) exposes 1.3103 (38.2% Fib) as the next barrier
  


• 
  A turn back above 1.3286 targets falling channel support-turned-resistance, now at 1.3364
  

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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

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Forex: EUR/USD Technical Analysis ? 1.32 Figure at Risk