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sdotwewen · 24-11-2006, 22:37

As expected, EURUSD broke above the trend line resistance (from 1.2978 to 1.2937) and move above 1.3000. The pair is now in up trend, and more sharply rise towards 1.3300 level can be expected in next two weeks. Near term support is at the up trend line (from 1.2524 to 1.2761), up trend will be contained well above the trend line support. For long term analysis, EURUSD will move higher to testing the resistance at 1.3668 (the top of 2004), we predict the next cycle top on weekly chart would be after January 2007.

24-11-2006, 22:37	#11
sdotwewen level 2 Join Date: Apr 2006 Posts: 739 Downloads: 0 Uploads: 0 Rep Power: 3	Re: EURUSD long term analysis As expected, EURUSD broke above the trend line resistance (from 1.2978 to 1.2937) and move above 1.3000. The pair is now in up trend, and more sharply rise towards 1.3300 level can be expected in next two weeks. Near term support is at the up trend line (from 1.2524 to 1.2761), up trend will be contained well above the trend line support. For long term analysis, EURUSD will move higher to testing the resistance at 1.3668 (the top of 2004), we predict the next cycle top on weekly chart would be after January 2007.