EURUSD Classic Technical Report 07.17.2012
Prices rose to take out resistance at 1.2249 after putting gin a Bullish Engulfing candlestick pattern above key support at 1.2177, a level dating to May 2010. The bulls now aim to challenge upside barriers at 1.2333 and 1.2433. The 1.2249 level has been recast as near-term support.
8hr 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