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EUR/USD Technical Analysis 05.07.2013

EUR/USD Technical Analysis 05.07.2013

2013-05-07 03:43:00
Ilya Spivak, Head Strategist, APAC
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EUR/USD Technical Analysis– Prices remain wedged between a rising trend line set from the March 27 low (1.3026) and the 38.2% Fibonacci expansion at 1.3127. A break above that initially aims for the 50% level at 1.3181. Alternatively, a reversal beneath the trend line eyes a previously broken neckline at 1.2925. We continue to hold long.

Forex_EURUSD_Technical_Analysis_05.07.2013_body_Picture_5.png, EUR/USD Technical Analysis 05.07.2013

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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