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EURUSD pulled back from 1.4517

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

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    Being contained by 1.4535 resistance, EURUSD pulled back from 1.4517, suggesting that the rise from 1.4055 has completed. Another fall towards 1.3900 would likely be seen, and a breakdown below 1.4259 could signal resumption of downtrend. On the upside, above 1.4535 resistance will indicate that the longer term uptrend from 1.3837 has resumed, then next target would be at 1.4750 area.


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