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EUR/USD Technical Analysis 02.05.2013

Ilya Spivak

EUR/USD Technical Analysis- Prices put in a Bearish Engulfing candlestick below resistance at 1.3643, the 100% Fibonacci expansion, and descended to support at the 76.4% level (1.3491). A break below that targets the 61.8% expansion at 1.3398. Alternatively, a push above resistance aims for the 123.6% Fib at 1.3798.


Forex_EURUSD_Technical_Analysis_02.05.2013_body_Picture_1.png, EUR/USD Technical Analysis 02.05.2013

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


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