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EURUSD stays in a trading range between 1.2985 and 1.3102

Discussion in 'Technical Analysis' started by ForexCycle.com, Jul 1, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    EURUSD stays in a trading range between 1.2985 and 1.3102. Key resistance is at 1.3102, as long as this level holds, the price action in the range could be treated as consolidation of the downtrend from 1.3415, one more fall to 1.2900 area is still possible after consolidation. On the upside, a break above 1.3102 resistance could signal completion of the downtrend from 1.3415, then the following upward movement could bring price back towards 1.3600.

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