EUR/USD Technical Analysis 02.05.2013

DailyFX

EUR/USD Technical Analysis- Prices put in a Bearish Engulfing candlestick below resistance at 1.3643, the 100% Fibonacci expansion, and descended to support at the 76.4% level (1.3491). A break below that targets the 61.8% expansion at 1.3398. Alternatively, a push above resistance aims for the 123.6% Fib at 1.3798.

View photo

.
Forex_EURUSD_Technical_Analysis_02.05.2013_body_Picture_1.png, EUR/USD Technical Analysis 02.05.2013

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

To be added to Ilya's e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

View Comments (0)