EUR/USD Classic Technical Report 07.03.2012
Prices broke below the 23.6% Fibonacci expansion at 1.2612 to challenge the 38.2% level at 1.2562. A break below this boundary exposes the 50% Fib at 1.2522. The 1.2612 mark has been recast as near-term resistance.
4hr Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to firstname.lastname@example.org