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EURUSD continues its bullish movement from 1.2643

Discussion in 'Technical Analysis' started by ForexCycle.com, Oct 7, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
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    EURUSD continues its bullish movement from 1.2643 and reached as high as 1.4029, and the subsequent pullback is treated as consolidation of uptrend. Support remains at the rising uptrend line on 4-hour chart, now at 1.3803, uptrend is expected to resume after touching the trend line support. However, a clear break below the trend line support will indicate that lengthier consolidation of uptrend is underway, then deeper decline to test 1.3637 key support could be seen.


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