EUR/USD Technical Analysis– Prices continue to push higher after putting in a bullish Harami candlestick pattern. Buyers are now testing above the 1.30 figure, with a break above that on a daily closing basis eyeing the 23.6% Fibonacci expansion at 1.3139. The trend line, now at 1.2801, has been recast as support. A turn back below that eyes 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
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.