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EURUSD remains in uptrend from 1.3477

Discussion in 'Technical Analysis' started by ForexCycle.com, Feb 23, 2014.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    EURUSD remains in uptrend from 1.3477, the fall from 1.3773 could be treated as consolidation of the uptrend. Initial support is at the bottom of the price channel on 4-hour chart, and the key support is at 1.3686, as long at this level holds, the uptrend could be expected to continue, and next target would be at 1.3850 area. On the downside, a breakdown below 1.3686 support will indicate that the uptrend from 1.3477 had completed at 1.3773 already, then the following downward movement could bring price back to 1.3400 zone.

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