Forex Analysis: EUR/USD Classic Technical Report 01.09.2013
Prices edged higher as expected after putting in a Hammer candlestick above rising trend line support set from late July. Initial resistance remains is at 1.3129, the September 14 closing top, and reinforced by the 23.6% Fibonacci expansion at 1.3150. A break above that aims for the 38.2% level at 1.3244. Alternatively, a drop through the trend line (now at 1.3009) aims for the December 7 low at 1.2875.
Daily Chart - Created Using FXCM Marketscope 2.0
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