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EURUSD continued its sideways movement

Discussion in 'Technical Analysis' started by ForexCycle.com, Aug 17, 2014.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
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    EURUSD continued its sideways movement in a range between 1.3333 and 1.3444. As long as 1.3444 resistance holds, the price action in the range could be treated as consolidation of the downtrend from 1.3700, another fall towards 1.3000 could be expected after consolidation. Support is at 1.3333, a breakdown below this level could signal resumption of the downtrend. On the upside, a break of 1.3444 resistance will indicate that the downtrend had completed at 1.3333 already, then the following upward movement could bring price to 1.3550 area.


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