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Forex4you Technical Analysis 08 Feb 2013

Discussion in 'Forex Daily News & Outlook' started by forex4you, Feb 8, 2013.

  1. forex4you

    forex4you New Member

    Jul 13, 2010
    Likes Received:
    EUR/USD: consolidation in downtrend

    Eurodollar has fallen to a natural support and resistance level and it has started to form a sideways consolidation. There is a possibility it could be a flag and if so then the flag pole extrapolated down could give a target at 1.3240.The H&S top at the highs could also yield a target at a similar level. Alternatively, given the pair is now edging up, if it continues it could reach 1.3470 first and then possibly 1.3500 where the neckline is afterwards.


    Analysis by: Joaquin Monfort
    Forex4you analyst

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