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EURUSD is facing channel support

Discussion in 'Technical Analysis' started by ForexCycle.com, Dec 18, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    EURUSD is facing the support of the lower line of the price channel on 4-hour chart. As long as the channel support holds, the uptrend from 1.3296 (Nov 7 low) could be expected to resume, and another rise to test 1.3832 (Oct 25 high) resistance is still possible. On the downside, a clear break below the channel support will indicate that the uptrend had completed at 1.3810 already, then the pair will find support around 1.3400.

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