Forex Analysis: EUR/USD Classic Technical Report 01.08.2013

Ilya Spivak

Prices edged higher as expected after putting in a Hammer candlestick above rising trend line support set from late July. Initial resistance remains at 1.3150, marked by the 23.6% Fibonacci expansion. A break above that aims for the 38.2% level at 1.3244. Alternatively, a drop through the trend line (now at 1.3001) aims for the December 7 low at 1.2875.


Forex_Analysis_EURUSD_Classic_Technical_Report_01.08.2013_body_Picture_1.png, Forex Analysis: EUR/USD Classic Technical Report 01.08.2013
Forex_Analysis_EURUSD_Classic_Technical_Report_01.08.2013_body_Picture_1.png, Forex Analysis: EUR/USD Classic Technical Report 01.08.2013

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


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