Trade FOREX with FXCM

  • Award-Winning Platform
  • 24/7 Customer Support
  • Trade Directly on Charts
  • Free $50K Practice Account

Resources

Forex Analysis: EUR/USD Classic Technical Report 01.08.2013

By , Currency Strategist
08 January 2013 09:37 GMT

Prices edged higher as expected after putting in a Hammer candlestick above rising trend line support set from late July. Initial resistance remains at 1.3150, marked by the 23.6% Fibonacci expansion. A break above that aims for the 38.2% level at 1.3244. Alternatively, a drop through the trend line (now at 1.3001) aims for the December 7 low at 1.2875.

Forex_Analysis_EURUSD_Classic_Technical_Report_01.08.2013_body_Picture_1.png, Forex Analysis: EUR/USD Classic Technical Report 01.08.2013

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

To be added to Ilya's e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from

08 January 2013 09:37 GMT