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EURUSD stays above the upward trend line

Discussion in 'Technical Analysis' started by ForexCycle.com, Jul 2, 2014.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    EURUSD stays above the upward trend line on 4-hour chart, and remains in uptrend from 1.3512, the fall from 1.3700 could be treated as consolidation of the uptrend. As long as the trend line support holds, the uptrend could be expected to resume, and another rise to 1.3800 area is still possible. On the downside, a clear break below the trend line support will indicate that the uptrend from 1.3512 had completed at 1.3700 already, then the following downward movement could bring price back to re-test 1.3502 support.

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