Forex Today Analysis and Signals EURUSD 12.17.2013
Below today’s 1.3727 low, a break of 1.3700 would hint at a run towards 1.3688 (23.6% of 1.3294/1.3810). Should this fail to hold its ground, then 1.3675 will provide minor support, below which we would head back towards 1.3650 and potentially to Fridays spike low at 1.3617, where the next Fibo support also lies (38.2% of 1.3294/1.3810).
Overall look for another day of 1.37/1.38, with the short term charts pointing mildly to a test of the downside.
Our preference: Long positions above 1.3735 with targets @ 1.3805 & 1.383 in extension.
Alternative scenario: Below 1.3735 look for further downside with 1.371 & 1.3675 as targets.
Comment: the RSI has just landed on its neutrality area at 50% and is turning up.
Pivot: 1.3735
Key levels
1.386
1.383
1.3805
1.37621 last
1.3735
1.371
1.3675
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