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EURUSD remains in downtrend from 1.3676

Discussion in 'Technical Analysis' started by ForexCycle.com, Jun 17, 2014.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    EURUSD remains in downtrend from 1.3676, the range trading between 1.3512 and 1.3586 is likely consolidation of the downtrend. Another fall to test 1.3502 support could be expected, a breakdown below this level will signal resumption of the longer term downtrend from 1.3993, then next target would be at 1.3350 area. Resistance is now at 1.3586, only break above this level will confirm that the downward movement from 1.3676 had completed at 1.3512 already, then further rise to test d1.3676 key resistance could be seen.


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