Forex Analysis: EUR/USD Classic Technical Report 01.14.2013

DailyFX

Prices broke above 50% Fibonacci expansion resistance at 1.3320, exposing the 61.8% level at 1.3397. A further push above that targets the 76.4% Fib at 1.3492. The 1.3220 level has been recast as near-term support. A reversal back below that aims for the 38.2% expansion at 1.3244.

View photo

.
Forex_Analysis_EURUSD_Classic_Technical_Report_01.14.2013_body_Picture_1.png, Forex Analysis: EUR/USD Classic Technical Report 01.14.2013

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)