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EURUSD drops sharply from 1.4026

Discussion in 'Technical Analysis' started by ForexCycle.com, Feb 4, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
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    EURUSD drops sharply from 1.4026 and reaches the lower border of the falling price channel on 4-hour chart. Minor consolidation of downtrend could be expected later today, however, another fall towards 1.3600 is still possible after consolidation. Resistance remains a the top of the price channel, only a clear break above the channel resistance could indicate that the fall from 1.4579 has completed.


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