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EURUSD has formed a cycle top at 1.3437

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

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    EURUSD has formed a cycle top at 1.3437 level on 4-hour chart. Drop towards 1.2969 previous low is expected in a couple of days, a break below this level will indicate that the downtrend from 1.4281 has resumed, then next target would be at 1.2800 area. Key resistance is at 1.3437, only break above this level could bring price to 1.3600 zone.

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