EUR/USD Technical Analysis– Prices continue to push higher after putting in a bullish Harami candlestick pattern. Buyers narrowly broke above the 1.30 figure, exposing the 23.6% Fibonacci expansion at 1.3139. Trend line resistance-turned-support is at 1.2975, with a break back below that eyeing a larger downward-slowing barrier at 1.2783as well as the March 27 low at 1.2750. We continue to hold long.
Daily Chart – Created Using FXCM Marketscope 2.0
Want to back-test your technical trading strategy? Download the historical data here.
— 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