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EURUSD is facing 1.3743 resistance again

Discussion in 'Technical Analysis' started by ForexCycle.com, Feb 22, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    EURUSD is facing 1.3743 resistance again, a break above this level will indicate that the fall from 1.3861 had completed at 1.3428 already, and the bounce from 1.3428 could be treated as resumption of uptrend from 1.2874 (Jan 10 low), then the following upward move could bring price to 1.4000 zone. However, as long as 1.3743 resistance holds, the rise from 1.3428 is treated as correction of downtrend from 1.3861, and another fall towards 1.3300 is still possible.


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