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Forex Analysis: EUR/USD Classic Technical Report 01.23.2013

MENAFN - DailyFX - 23/01/2013


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Prices put in a bearish Evening Star candlestick pattern, hinting a move lower is ahead. Initial support is at 1.3255, with a break below that targeting the 1.3119-29 area. This barrier is reinforced by a rising trend line set from the July 24 2012 bottom. Near-term resistance is at 1.3403, the January 14 high.

Forex_Analysis_EURUSD_Classic_Technical_Report_01.23.2013_body_Picture_1.png, Forex Analysis: EUR/USD Classic Technical Report 01.23.2013

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

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