1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

EURUSD runs in a rising price channel

Discussion in 'Technical Analysis' started by ForexCycle.com, Oct 21, 2009.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    EURUSD runs in a rising price channel on 4-hour chart and continue its upward trend from 1.4484. Further rally is still in favor and next target would be at 1.5100 zone. Support is now at the lower border of the price channel, as long as the channel support holds, uptrend will continue. However, a breakdown below 1.4827 key support will indicate that the rise from 1.4484 has completed, then the following pullback will take price to 1.4700-1.4750 area.


    Daily Forex Forecast

Share This Page