# EUR/USD Trend Line Retest (November 22, 2013)

Source: https://www.tradersway.com/resources/market-info/eur-usd-trend-line-retest-november-22-2013/
Language: en
Updated: 2013-11-22

EUR/USD finally broke below that tight consolidation on top of a rising trend line, but it appears that a pullback could be in the cards. The pair bounced off the 1.3400 major psychological level and appears ready to retrace to the Fibs on the 1-hour time frame.



The 61.8% Fibonacci retracement level is in line with the trend line and is close to the 1.3500 major psychological resistance. Stochastic is already in the oversold region, with a shallow bearish divergence indicating that bears are ready to push the pair back down soon.



![EUR/USD Trend Line Retest (November 22, 2013)]



Shorting at 1.3500 with a 50-pip stop and a target of the previous lows around 1.3400 could yield a 2:1 return on risk.



*By Kate Curtis from Trader’s Way*