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EURUSD’s uptrend from 1.4177 extends to as high as 1.4599 level

Discussion in 'Technical Analysis' started by ForexCycle.com, Sep 9, 2009.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    EURUSD’s uptrend from 1.4177 extends to as high as 1.4599 level. Further rise is still in favor and next target would be at 1.4650-1.4700 area. Near term support is at 1.4467, as long as this level holds, uptrend will continue. However, a break below 1.4467 level will indicate that a short term cycle top has been formed on 4-hour chart, then deeper decline is expected to follow and target would be at 1.4400 zone.

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