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EURUSD is facing trend line resistance

Discussion in 'Technical Analysis' started by ForexCycle.com, Nov 11, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    EURUSD is facing the resistance of the downward trend line on 4-hour chart, a clear break above the trend line will suggest that the downtrend from 1.3832 had completed at 1.3296 already, then the following upward movement could bring price back to 1.3700 area. On the downside, as long as the trend line resistance holds, the downtrend from 1.3832 could be expected to resume, and one more fall towards 1.3100 is still possible.


    Provided by ForexCycle.com

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