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Forex4you Technical Analysis 25 Feb 2013

Discussion in 'Forex Daily News & Outlook' started by forex4you, Feb 25, 2013.

  1. forex4you

    forex4you New Member

    Jul 13, 2010
    Likes Received:
    EUR/USD: channeling down

    The pair has been channelling down since the start of February. It has just reached the lower line of the channel and the monthly pivot and has rebound. It will probably bounce back up to the upper channel line at 1.3300 next, with further tougher resistance also at 1.3330. Eventually it will probably resume its down-trend, however, with the key 1.2950 level marked as a probable downside target for the move.


    Analysis by: Joaquin Monfort
    Forex4you analyst

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