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Forex Analysis: EUR/USD Classic Technical Report 01.10.2013

Forex Analysis: EUR/USD Classic Technical Report 01.10.2013

Ilya Spivak, Head Strategist, APAC

Prices are testing rising trend line support set from late July (1.3016). A break below that aims for the December 7 low at 1.2875. Near-term resistance 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.

Forex_Analysis_EURUSD_Classic_Technical_Report_01.10.2013_body_Picture_1.png, Forex Analysis: EUR/USD Classic Technical Report 01.10.2013

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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