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EUR/USD Technical Analysis 02.08.2013

Ilya Spivak

EUR/USD Technical Analysis- Prices turned lower as expected after putting in a Bearish Engulfing candlestick pattern below resistance at 1.3643, the 100% Fibonacci expansion. Sellers are now testing below the 61.8% level at 1.3395, with a break exposing the 38.2% mark at 1.3242. Near-term resistance is at 1.3494, the 76.4% Fib.

Forex_EURUSD_Technical_Analysis_02.08.2013_body_Picture_1.png, EUR/USD Technical Analysis 02.08.2013
Forex_EURUSD_Technical_Analysis_02.08.2013_body_Picture_1.png, EUR/USD Technical Analysis 02.08.2013

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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