Forex Analysis: EUR/USD Classic Technical Report 12.20.2012
Prices put in a bearish Gravestone Doji candlestick at resistance marked by the 50% Fibonacci expansion (1.3223), hinting a move lower is ahead. Initial support lines up at 1.3091, the 38.2% Fib. Alternatively, a reversal back above 1.3223 eyes the 61.8% level at 1.3358.
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, please CLICK HERE