Advertisement
Singapore markets closed

  • Straits Times Index

    3,280.10
    -7.65 (-0.23%)
     

  • Nikkei

    37,934.76
    +306.28 (+0.81%)
     

  • Hang Seng

    17,651.15
    +366.61 (+2.12%)
     

  • FTSE 100

    8,139.83
    +60.97 (+0.75%)
     

  • Bitcoin USD

    63,694.32
    -688.33 (-1.07%)
     

  • CMC Crypto 200

    1,325.51
    -71.03 (-4.88%)
     

  • S&P 500

    5,109.92
    +61.50 (+1.22%)
     

  • Dow

    38,298.30
    +212.50 (+0.56%)
     

  • Nasdaq

    15,959.37
    +347.61 (+2.23%)
     

  • Gold

    2,346.00
    +3.50 (+0.15%)
     

  • Crude Oil

    83.94
    +0.37 (+0.44%)
     

  • 10-Yr Bond

    4.6650
    -0.0410 (-0.87%)
     

  • FTSE Bursa Malaysia

    1,575.16
    +5.91 (+0.38%)
     

  • Jakarta Composite Index

    7,036.08
    -119.22 (-1.67%)
     

  • PSE Index

    6,628.75
    +53.87 (+0.82%)
     

Forex Analysis: EUR/USD Classic Technical Report 11.22.2012

Ilya Spivak

Prices are re

Prices are testing above the 23.6% Fibonacci expansion level at 1.2830, a barrier reinforced by a falling trend line resistance set from the October 17 high. A break above that exposes a larger trend line established from May 2011, now at 1.3016. Near-term support is at the 1.27 figure, with a drop below that aiming for the 38.2% Fib at 1.2620. We continue to hold short.

Forex_Analysis_EURUSD_Classic_Technical_Report_11.22.2012_body_Picture_1.png, Forex Analysis: EUR/USD Classic Technical Report 11.22.2012
Forex_Analysis_EURUSD_Classic_Technical_Report_11.22.2012_body_Picture_1.png, Forex Analysis: EUR/USD Classic Technical Report 11.22.2012

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

ADVERTISEMENT

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.