Trade FOREX with FXCM

  • Award-Winning Platform
  • 24/7 Customer Support
  • Trade Directly on Charts
  • Free $50K Practice Account


Forex Analysis: EUR/USD Classic Technical Report 12.05.2012

By , Currency Strategist
05 December 2012 07:04 GMT

Prices broke long-term trend line resistance set from May 2011, exposing the 38.2% Fibonacci expansion at 1.3092. This barrier is reinforced the top of a falling channel set from the September 17 swing high. A break above that targets the 50% level at 1.3223. Trend line resistance-turned-support is at 1.2987, with a break below that exposing the 23.6% Fib at 1.2925.

Forex_Analysis_EURUSD_Classic_Technical_Report_12.05.2012_body_Picture_1.png, Forex Analysis: EUR/USD Classic Technical Report 12.05.2012

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

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

05 December 2012 07:04 GMT