1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

EURUSD continued its downward movement

Discussion in 'Technical Analysis' started by ForexCycle.com, Aug 4, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Joined:
    Sep 1, 2008
    Messages:
    914
    Likes Received:
    0
    EURUSD continued its downward movement from 1.4535 and the fall extended to as low as 1.4055. Deeper decline is still possible in a couple of days, and next target would be at 1.3950 area. Resistance is at the downtrend line on 4-hour chart, only a clear break above the trend line could indicate that the fall is complete.

    [​IMG]

    Daily Forex Analysis
     
Loading...

Share This Page