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EURUSD stays in a trading range

Discussion in 'Technical Analysis' started by ForexCycle.com, Jan 23, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    EURUSD stays in a trading range between 1.3256 and 1.3403. As long as 1.3256 support holds, the price action in the range is treated as consolidation of the uptrend from 1.2998 and another rise towards 1.3500 is still possible after consolidation. Only break below 1.3256 will indicate that lengthier consolidation of the longer term uptrend from 1.2661 (Nov 13, 2012 low) is underway, then deeper decline to 1.3150-1.3200 area could be seen.

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