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EURUSD remains in downtrend from 1.3700

Discussion in 'Technical Analysis' started by ForexCycle.com, Jul 7, 2014.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    EURUSD remains in downtrend from 1.3700, the rise from 1.3575 is likely consolidation of the downtrend. Resistance is at 1.3650, as long as this level holds, the downtrend could be expected to resume, and another fall towards 1.3500 is still possible after consolidation. On the upside, a break above 1.3650 resistance will indicate that the downtrend had completed at 1.3575 already, then further rise towards 1.3800 could be seen.

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