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EUR/USD Technical Analysis 05.08.2013

Ilya Spivak

EUR/USD Technical Analysis– Prices remain wedged between a rising trend line set from the March 27 low (1.3055) and the 38.2% Fibonacci expansion at 1.3128. A break above that initially aims for the 50% level at 1.3181. Alternatively, a reversal beneath the trend line eyes a previously broken neckline at 1.2919. We continue to hold long.

Forex_EURUSD_Technical_Analysis_05.08.2013_body_Picture_5.png, EUR/USD Technical Analysis 05.08.2013

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

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