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EURUSD stays in a rising price channel

Discussion in 'Technical Analysis' started by ForexCycle.com, Jun 2, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    EURUSD stays in a rising price channel on 4-hour chart, and remains in uptrend from 1.3969. As long as the channel support holds, uptrend could be expected to continue and next target would be at 1.4550. However, a clear break below the lower border of the channel will indicate that a cycle top has been formed and the rise from 1.3969 has completed, then the following downward move could bring price back to test 1.3969 support.


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