Filed Under:
Forex pairs in this Article » EUR/USD, EUR/USD
Prices have turned lower as expected after putting in a bearish Gravestone Doji candlestick. Sellers have now cleared support at the bottom of a rising channel set from mid-November (now at 1.3091) as well as the 38.2% Fibonacci retracement (1.3060), exposing the 50% level at 1.2983. A drop beneath that aims for the 61.8% Fib at 1.2907. The 1.3060 level has been recast as resistance.

Forex_Analysis_EURUSD_Classic_Technical_Report_01.04.2013_body_Picture_1.png, Forex Analysis: EUR/USD Classic Technical Report 01.04.2013 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

comments powered by Disqus