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EURUSD remains in downtrend from 1.3411

Discussion in 'Technical Analysis' started by ForexCycle.com, Sep 14, 2014.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    EURUSD remains in downtrend from 1.3411, the rise from 1.2859 is likely consolidation of the downtrend. Near term resistance is at 1.2987, as long as this level holds, the downtrend could be expected to resume, and another fall towards 1.2500 is still possible after consolidation. Key resistance is at the downward trend line on 4-hour chart, only a clear break above the trend line resistance will signal completion of the downtrend, then the pair will find resistance around 1.3100.


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