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Forex Analysis: EUR/USD Classic Technical Report 12.27.2012

Forex Analysis: EUR/USD Classic Technical Report 12.27.2012

Ilya Spivak, Head Strategist, APAC

Prices rebounded from channel midline support to retest resistance at 1.3283, the May 1 high. This barrier is reinforced by the channel top at 1.3313. A break above that exposes the March 27 high at 1.3384. Alternatively, a reversal below the midline (1.3194) exposes the channel bottom at 1.3079.

Forex_Analysis_EURUSD_Classic_Technical_Report_12.24.2012_body_Picture_1.png, Forex Analysis: EUR/USD Classic Technical Report 12.27.2012

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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