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EURUSD remains in uptrend from 1.2661

Discussion in 'Technical Analysis' started by ForexCycle.com, Jan 2, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    EURUSD remains in uptrend from 1.2661, the fall from 1.3308 is likely consolidation of the uptrend. Deeper decline would likely be seen, and the target would be at 1.3100 area. Key resistance is at 1.3308, above this level will suggest that the uptrend has resumed, then further rise towards 1.3500 could be seen. Key support is at 1.3000, only break below this level could indicate that lengthier consolidation of the longer term uptrend from 1.2042 is underway, then further decline to 1.2800 area could be expected.


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