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EUR/USD Technical Analysis 04.12.2013

EUR/USD Technical Analysis 04.12.2013

2013-04-12 07:55:00
Ilya Spivak, Head Strategist, APAC
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EUR/USD Technical Analysis– Prices continue to probe higher after putting in a bullish Harami candlestick pattern. Buyers are targeting the 23.6% Fibonacci expansion at 1.3139, with a break above that exposing the 38.2% level at 1.3383. Trend line resistance-turned-support is at 1.2954. A reversal back beneath that aims for the April 4 low at 1.2745. We continue to hold long.

Forex_EURUSD_Technical_Analysis_04.12.2013_body_Picture_5.png, EUR/USD Technical Analysis 04.12.2013

Daily Chart - Created Using FXCM Marketscope 2.0

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--- 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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