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EURUSD remains in downtrend from 1.3739

Discussion in 'Technical Analysis' started by ForexCycle.com, Feb 3, 2014.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    EURUSD remains in downtrend from 1.3739, the rise from 1.3477 could be treated as consolidation of the downtrend. Resistance is at 1.3570, as long as this level holds, the downtrend could be expected to continue, and next target would be at 1.3400 area. Only break above 1.3570 resistance will indicate that lengthier consolidation of the longer term downtrend from 1.3892 is underway, then further rise to 1.3700 area could be seen.

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