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EURUSD is facing trend line resistance

Discussion in 'Technical Analysis' started by ForexCycle.com, Mar 31, 2014.

  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 resistance will indicate that the downtrend from 1.3966 had completed at 1.3705 already, then the following upward movement could bring price to 1.4000 area. On the downside, as long as the trend line resistance holds, the rise from 1.3705 would possibly be consolidation of the downtrend, another fall towards 1.3550 is still possible after consolidation.


    Provided by ForexCycle.com

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