Long Term Forex Analysis

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EURUSD rebounded from 1.4626 level
Sat, Nov 7 2009, 05:12 GMT
by Franco Shao
ForexCycle.com
After touching the lower border of the rising price channel on daily chart, EURUSD rebounded from 1.4626 level. The rise from 1.4626 is more likely resumption of uptrend from 1.3748, another rise towards 1.5200 is now in favor. Key support level is located at 1.4626, fall below this level will indicate that the uptrend from 1.3748 has completed at 1.5062 already, then the following downtrend could take price back to 1.4000 area.
For long term analysis, EURUSD remains in long term bullish movement from 1.2456, further rise is still possible to 1.5200-1.5500 area. However, a break below 1.4484 key support will indicate that a long term cycle top has been formed on weekly chart.

Published on
Sat, Nov 7 2009, 05:12 GMT
Archive
- EURUSD rebounded from 1.4626 level
Published On Sat, Nov 7 2009, 05:12 GMT
- EURUSD pulled back from 1.5062
Published On Sat, Oct 31 2009, 15:13 GMT
- GBPUSD broke above the falling trend line
Published On Sun, Oct 25 2009, 01:09 GMT
- EURUSD broke above 1.4843
Published On Sat, Oct 17 2009, 04:10 GMT
- USDJPY's downtrend from 97.78 extended further to as low as 88.01
Published On Sat, Oct 10 2009, 04:45 GMT
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