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23 Apr 2013
Forex: EUR/USD hovering over 1.3010/15
FXstreet.com (Barcelona) - The single currency is paring earlier losses on Monday, not only regaining the 1.3000 mark but also pushing the cross to the current levels around 1.3020.
According to I.Spivak, Currency Strategist at DailyFX, “Prices may be carving out a H&S topping chart pattern. Confirmation of the set up requires a close below support in the 1.2012-26 area, marked by the H&S neck-line and the 38.2% Fibonacci retracement”.
At the moment the cross is down 0.40% at 1.3014 facing the next support at 1.2972 (MA21d) ahead of 1.2963 (low Apr.8) en route to 1.2936 (MA200d).
On the upside, a breakout of 1.3085 (high Apr.23) would expose 1.3130 (high Apr.19) and finally 1.3202 (high Apr.16).
According to I.Spivak, Currency Strategist at DailyFX, “Prices may be carving out a H&S topping chart pattern. Confirmation of the set up requires a close below support in the 1.2012-26 area, marked by the H&S neck-line and the 38.2% Fibonacci retracement”.
At the moment the cross is down 0.40% at 1.3014 facing the next support at 1.2972 (MA21d) ahead of 1.2963 (low Apr.8) en route to 1.2936 (MA200d).
On the upside, a breakout of 1.3085 (high Apr.23) would expose 1.3130 (high Apr.19) and finally 1.3202 (high Apr.16).