EURUSD Classic Technical Report 08.06.2012
Prices are testing resistance at 1.2394, the intersection of the 50% Fibonacci retracement and a downward sloping trend line set from late June. A break higher exposes the 61.8% level at 1.2477. Near-term support is at 1.2311, the 38.2% Fib.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. 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 email@example.com
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.