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EURUSD remains in downtrend from 1.3832

Discussion in 'Technical Analysis' started by ForexCycle.com, Nov 6, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    EURUSD remains in downtrend from 1.3832, the rise from 1.3443 is likely consolidation of the downtrend. Resistance is at 1.3590, as long as this level holds, the downtrend could be expected to resume, and one more fall towards 1.3000 is still possible. On the upside, a break above 1.3590 resistance will indicate that the downtrend from 1.3832 had completed at 1.3443 already, then the following upward movement could bring price to 1.4000 zone.

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