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EURUSD may be forming a cycle top at 1.3125

Discussion in 'Technical Analysis' started by ForexCycle.com, Dec 5, 2012.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    EURUSD may be forming a cycle top at 1.3125 on 4-hour chart. Range trading between 1.3000 and 1.3125 would likely be seen in a couple of days. Support is now located at the lower line of the price channel, as long as the channel support holds, the fall from 1.3125 could be treated as consolidation of the uptrend from 1.2661, one more rise towards 1.3500 is still possible after consolidation, only a clear break below the channel support could signal completion of the uptrend.


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