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Forex Analysis: EUR/USD Classic Technical Report 12.19.2012

Forex Analysis: EUR/USD Classic Technical Report 12.19.2012

Ilya Spivak, Head Strategist, APAC

Prices narrow broke above the 50% Fibonacci expansion at 1.3223 to expose the 61.8% level at 1.3354. A push above that aims for the 76.4% level at 1.3520. The 1.3223 level has been recast as near-term support, with a drop back below that aiming for the 38.2% mark at 1.3090.

Forex_Analysis_EURUSD_Classic_Technical_Report_12.19.2012_body_Picture_1.png, Forex Analysis: EUR/USD Classic Technical Report 12.19.2012

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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