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Short Term Analysis

EURUSD breaks above 1.3658 key resistance

Thu, Jan 8 2009, 01:46 GMT
by Franco Shao

ForexCycle.com  |  View company's profile


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EURUSD breaks above 1.3658 key resistance, suggesting that a short term cycle bottom has been formed at 1.3313 on 4-hour chart. However, the rise from 1.3313 is treated as consolidation of downtrend, one more fall is still possible to1.3100 zone after consolidation, and a break down below 1.3313 will confirm the resumption of downtrend.


EURUSD 4H Chart


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