EUR/USD Technical Analysis: Bulls Break Key Trend Line

DailyFX

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.

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

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--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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