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EURUSD broke above 1.3845 resistance

Discussion in 'Technical Analysis' started by ForexCycle.com, Mar 24, 2014.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    EURUSD broke above 1.3845 resistance, indicating that the downtrend from 1.3966 had completed at 1.3749 already. Further rise to test 1.3966 resistance could be expected, a break above this level will signal resumption of the uptrend from 1.3477 (Feb 3 low), then the following upward movement could bring price to 1.4500 area. Support levels are at 1.3805 and 1.3749, only break below these levels could trigger another fall towards 1.3550.


    Provided by ForexCycle.com

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