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EURUSD continues sideways movement

Discussion in 'Technical Analysis' started by ForexCycle.com, May 28, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    EURUSD continues its sideways movement in a range between 1.2796 and 1.2998. Key resistance is at 1.2998, as long as this level holds, the sideways movement could be treated as consolidation of the downtrend from 1.3242, another fall to test 1.2747 support is still possible. However, a break above 1.2998 resistance will indicate that the downtrend from 1.3242 had completed at 1.2796 already, then the following upward movement could bring price to 1.3500 zone.


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