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EURUSD stays in a trading range between 1.3157 and 1.3308

Discussion in 'Technical Analysis' started by ForexCycle.com, Dec 27, 2012.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    EURUSD stays in a trading range between 1.3157 and 1.3308. Another fall towards the lower line of the price channel on 4-hour chart would likely be seen. As long as the channel support holds, the price action from 1.3308 could be treated as consolidation of the uptrend from 1.2661, and another rise towards 1.3500 is still possible after consolidation. On the downside, a clear break below the channel support will indicate that the uptrend from 1.2661 has completed at 1.3308 already, then the following downward movement could bring price back to 1.2700-1.2800 area.

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  2. Jhon Kumar

    Jhon Kumar New Member

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    Thanks for this post post. I am still aware from this information.
     
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