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EURUSD breaks below 1.3267 previous low

Discussion in 'Technical Analysis' started by ForexCycle.com, Apr 22, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    EURUSD breaks below 1.3267 previous low, suggesting that the long term downtrend from 1.5144 (Nov 25, 2009 low) has resumed. Deeper decline is still possible after a minor consolidation, and next target would be at 1.3100 area. Resistance is at the falling trend line on 4-hour chart, as long as the trend line resistance holds, downtrend could be expected to continue.


    Daily Forex Analysis

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