EUR/ USD Daily Technical Analysis 23 May 2012

Amy Forex

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Good morning all,

The EUR/USD prices slipped and reached the 1.2644 level which is the bottom level of the symmetrical triangle.
Today we expect a further decline towards the Fibonacci 176.4 % at the 1.2608 level, however should the prices breach up the 1.2684 level, the next target would be towards the 1.2725 level.

We also expect that the EUR/USD prices would remain trading in a limited range within the 1.2608-1.2724 area as the investors ahead of the European leaders meeting later today.

chart23.png


Good luck all ;)
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