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sdotwewen · 08-12-2006, 22:20

EURUSD is topping on daily chart, the fall from 1.3364 is treated as in correction to the up trend, and further fall towards 1.3100 level is possible next week. Near term support is at 1.3160 and followed by 1.3100. Key resistance is now at 1.3364, a break above this level may signal the resumption of the up trend. For the long term analysis, EURUSD would move above 1.3668 (the top of 2004) to meet the next cycle top on weekly chart and the next cycle top would appear after January 2007.

08-12-2006, 22:20	#15
sdotwewen level 2 Join Date: Apr 2006 Posts: 739 Downloads: 0 Uploads: 0 Rep Power: 3	Re: EURUSD long term analysis EURUSD is topping on daily chart, the fall from 1.3364 is treated as in correction to the up trend, and further fall towards 1.3100 level is possible next week. Near term support is at 1.3160 and followed by 1.3100. Key resistance is now at 1.3364, a break above this level may signal the resumption of the up trend. For the long term analysis, EURUSD would move above 1.3668 (the top of 2004) to meet the next cycle top on weekly chart and the next cycle top would appear after January 2007.