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EURUSD continues its upward movement

Discussion in 'Technical Analysis' started by ForexCycle.com, Aug 8, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
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    After a minor consolidation, EURUSD continues its upward movement from 1.2732 and the rise extended to as high as 1.3333 level. Support is at the lower border of the price channel on 4-hour chart, now at 1.3194, as long as the channel support holds, another rise is still possible and next target would be at 1.3500-1.3600 area. On the downside, a clear break below the channel support will indicate that the rise from 1.2732 is complete.


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