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EUR/USD Technical Analysis: Bulls Break Key Trend Line

EUR/USD Technical Analysis: Bulls Break Key Trend Line

Ilya Spivak, Head Strategist, APAC

EUR/USD Technical AnalysisPrices took out resistance at a falling trend line set from February to expose the 38.2% Fibonacci expansion at 1.3412. A further push above that targets the 50% level at 1.3482. Alternatively, a move back below the trend line (now at 1.3304) yes the August 2 low at 1.3187.

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_eur-usd_body_Picture_2.png, EUR/USD Technical Analysis: Bulls Break Key Trend Line

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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