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EURUSD stays a in trading range between 1.3298 and 1.3451

Discussion in 'Technical Analysis' started by ForexCycle.com, Aug 27, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    EURUSD stays a in trading range between 1.3298 and 1.3451. The price action in the range is likely consolidation of the uptrend from 1.3206. As long as 1.3298 support holds, the uptrend could be expected to resume, and further rise to 1.3500 area is possible after consolidation. On the downside, a breakdown below 1.3298 support will indicate that lengthier consolidation of the longer term uptrend from 1.2756 is underway, then deeper decline to test 1.3206 support could be seen.

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