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EURUSD failed to test 1.5144 previous high resistance

Discussion in 'Technical Analysis' started by ForexCycle.com, Dec 3, 2009.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    EURUSD failed to test 1.5144 previous high resistance, pullback towards 1.4900 zone to reach next cycle bottom on 4-hour chart would more likely be seen in a couple of days, however, a break below 1.5032 support is needed to confirm such case. On the other side, a break above 1.5144 level will signal resumption of longer term uptrend from 1.3748 (Jun 16 low), and then further rally is expected to 1.5200-1.5300 area.


    Written by ForexCycle.com

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