Singapore Markets closed

Forex Analysis: EUR/USD Classic Technical Report 12.13.2012

Ilya Spivak

Prices recovered from interim support in the 1.2855-1.2902 area to test initial resistance at the top of a falling channel set from mid-September (now at 1.3085).This boundary is reinforced bythe underside of a rising trend line set from the November 13 low (1.3119). A push above the latter level aims for the December 5 high at 1.3126. Alternatively, a drop below support exposes the 38.2% Fib at 1.2737.

Forex_Analysis_EURUSD_Classic_Technical_Report_12.14.2012_body_Picture_1.png, Forex Analysis: EUR/USD Classic Technical Report 12.13.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, e-mail 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.