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Forex Analysis: EUR/USD Classic Technical Report 12.20.2012

By , Currency Strategist
20 December 2012 11:47 GMT

Prices put in a bearish Gravestone Doji candlestick at resistance marked by the 50% Fibonacci expansion (1.3223), hinting a move lower is ahead. Initial support lines up at 1.3091, the 38.2% Fib. Alternatively, a reversal back above 1.3223 eyes the 61.8% level at 1.3358.

Forex_Analysis_EURUSD_Classic_Technical_Report_12.20.2012_body_Picture_1.png, Forex Analysis: EUR/USD Classic Technical Report 12.20.2012

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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20 December 2012 11:47 GMT