EUR/USD Technical Analysis

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EUR/USD Technical Analysis

The pick of the day is EUR/USD, which has been on an overall uptrend since July 9th 2013. The trend line is perfectly touching 4 higher lows, the latest being yesterday.

Adding a Fibonacci retracement to the latest uptrend wave between November 7thand December 27th, as you can see the pair is now dancing right at the 50% Fibonacci level which interestingly enough crossing the overall uptrend we were talking about. Will the 50% Fibonnaci hold? If not, a break below this level at 1.35920 could open doors for more declines in this currency pair.

Stay tuned for more technical updates and don’t forget to follow the fundamental news and market sentiment as well, before you make a final trading decision!

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