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

EURUSD stays below a downtrend line

Discussion in 'Technical Analysis' started by ForexCycle.com, Aug 3, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    EURUSD stays below a downtrend line on 4-hour chart, and remains in downtrend from 1.4535, the rise from 1.4143 would possibly be consolidation of downtrend. As long as the trend line resistance holds, we’d expect downtrend to resume, and another fall towards 1.4050 is possible. Only a clear break above the trend line could indicate that the fall has completed at 1.4143 already, then further rise to 1.4700-1.4800 area could be seen.


    Forex Signals

Share This Page