MoneyTec Traders Community Forum - View Single Post

sdotwewen · 21-11-2006, 21:35

EURUSD is topping on daily chart, and further fall below 1.2761 to reach the next cycle bottom can be expected in next two weeks. Key resistance is at 1.2899, a break above this level may signal the resumption of the up trend. For long term analysis, the fall from 1.2899 is treated as in correction to the up trend, and further rise above 1.2978 previous high to reach the next cycle top on weekly chart can be seen in the next two months.

21-11-2006, 21:35	#10
sdotwewen level 2 Join Date: Apr 2006 Posts: 738 Downloads: 0 Uploads: 0 Rep Power: 3	Re: EURUSD long term analysis EURUSD is topping on daily chart, and further fall below 1.2761 to reach the next cycle bottom can be expected in next two weeks. Key resistance is at 1.2899, a break above this level may signal the resumption of the up trend. For long term analysis, the fall from 1.2899 is treated as in correction to the up trend, and further rise above 1.2978 previous high to reach the next cycle top on weekly chart can be seen in the next two months.