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EURUSD’s downward movement extends to 1.2885

Discussion in 'Technical Analysis' started by ForexCycle.com, Jan 9, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    EURUSD’s downward movement extends to as low as 1.2885 level. Deeper decline is still possible later today and next target would be at 1.2750 area. Initial resistance is at 1.3025, only break above this level could indicate that minor consolidation of downtrend is underway, then bounce to 1.3100-1.3200 area could be seen.

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