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EURUSD remains in uptrend from 1.4007

Discussion in 'Technical Analysis' started by ForexCycle.com, Aug 6, 2009.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    EURUSD remains in uptrend from 1.4007 and the price action from 1.4444 is treated as consolidation of uptrend. Near term support is now at 1.4250, as long as this level holds, we’d expect the uptrend to resume and further rise towards 1.4600 is still possible after consolidation . However, below 1.4250 level will indicate that a short term cycle top has been formed at 1.4447, then deeper decline could be seen to 1.4150 zone.


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