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EURUSD breaks below channel support

Discussion in 'Technical Analysis' started by ForexCycle.com, Aug 2, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    EURUSD breaks below the support of the lower line of the price channel on 4-hour chart, suggesting that consolidation of the uptrend from 1.2756 is underway. Range trading between 1.3100 and 1.3344 would likely be seen over the next several days. Key support is at 1.3100, as long as this level holds, the uptrend could be expected to resume, and one more rise towards 1.3600 is still possible after consolidation.


    Provided by ForexCycle.com

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