Forex Analysis: EUR/USD Classic Technical Report 12.19.2012
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.
Daily 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, please CLICK HERE
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.