Tanalys

EUR/USD Technical Analysis 05.30.2013

EUR/USD Technical AnalysisPrices advanced as expected after putting in a Bullish Engulfing candlestick pattern. Initial resistance is at 1.2972, the 23.6% Fibonacciretracement. A break above that aims for the 38.2% at 1.3113. Support is marked by a rising trend line set from mid-November 2012, now at 1.2806.

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

Exit mobile version