Trade FOREX with FXCM

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

Resources

EUR/USD Technical Analysis 03.11.2013

By , Currency Strategist
11 March 2013 11:44 GMT

EUR/USD Technical Analysis– Prices have completed a Bullish Engulfing candlestick pattern, hinting a move higher is ahead. Positive RSI divergence reinforces the case for an upside scenario. Initial trend line resistance is at 1.3083, followed by the 23.6% Fibonacci retracement at 1.3139. A break above the latter level exposes the 38.2% level at 1.3248. Near-term support is at 1.2963, the March 6 low.

Forex_EURUSD_Technical_Analysis_03.11.2013_body_Picture_5.png, EUR/USD Technical Analysis 03.11.2013

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

11 March 2013 11:44 GMT