EUR/USD Technical Analysis– Prices advanced as expected after putting in a Bullish Engulfing candlestick pattern. The pair is now testing resistance at a falling trend line set from early February (1.3058). A break above that eyes a horizontal barrier at 1.3179. Near-term support is at 1.2953, the April 24 low, with a move beneath that targeting a rising trend line at 1.2807.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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EUR/USD Technical Analysis 06.03.2013
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