EUR/USD Technical Analysis 04.23.2013
EUR/USD Technical Analysis– Prices may be carving out a Head and Shoulders topping chart pattern. Confirmation of the setup requires a close below support in the 1.3012-26 area, marked by the H&S neckline and the 38.2% Fibonacci retracement. We continue to hold long for now pending the setup’s validation. Near-term resistance is at 1.3093, the 23.6% level.
8hr Chart - Created Using FXCM Marketscope 2.0
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--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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