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Contributors Chart of the Day for May 29th, 2013 – EUR/USD

By Ilya Spivak

Prices advanced as expected after putting in a Bullish Engulfing candlestick pattern. Initial resistance is at 1.2972, the 23.6% Fibonacciretracement. A break above that aims for the 38.2% at 1.3113. Support is marked by a rising trend line set from mid-November 2012, now at 1.2794.

eurusd

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