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EURUSD remains in downtrend from 1.3892

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

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    EURUSD remains in downtrend from 1.3892, the rise from 1.3571 could be treated as consolidation of the downtrend. As long as 1.3680 resistance holds, the downtrend could be expected to resume, and the target would be at 1.3400 area. On the upside, a break above 1.3680 resistance will indicate that the downward movement from 1.3892 is complete, then further rise to 1.3780 area could be seen.

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