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EURUSD Classic Technical Report 09.24.2012

EURUSD Classic Technical Report 09.24.2012

2012-09-24 09:26:00
Ilya Spivak, Head Strategist, APAC
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Prices are pulling back from resistance at a falling trend line set from May 2011 to test support at 1.2902, the 23.6% Fibonacci retracement. A break below this barrier targets a minor trend line at 1.2815 and the 38.2% retracement at 1.2737. Trend line resistance is now at 1.3145.

EURUSD_Classic_Technical_Report_09.24.2012_body_Picture_5.png, EURUSD Classic Technical Report 09.24.2012

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

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