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EURUSD runs in a price channel

Discussion in 'Technical Analysis' started by ForexCycle.com, Aug 2, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    EURUSD runs in a price channel on 4-hour chart. Support is now at the lower border of the channel, now at 1.3045, as long as the channel support holds, uptrend from 1.2732 is expected to continue and next target would be at 1.3350 area. Only a clear break below the channel support could indicate that a cycle top is being formed, and the uptrend from 1.2732 is complete, then pullback to 1.3000 area could be seen.

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