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EURUSD stays in a upward price channel

Discussion in 'Technical Analysis' started by ForexCycle.com, Oct 7, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    EURUSD stays in a upward price channel on 4-hour chart, and remains in uptrend from 1.3105. As long as the channel support holds, the price action from 1.3568 could be treated as consolidation of the uptrend, and one more rise towards 1.3700 is still possible after consolidation. On the downside, a clear break below the channel support will indicate that the uptrend from 1.3105 had completed at 1.3646 already, then the following downward movement could bring price to 1.3300 zone.

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