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EURUSD continued its downward movement

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

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    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.


    Daily Forex Analysis

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