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sdotwewen · 15-12-2006, 22:42

Key support at 1.3129 is broken below, EURUSD topped at 1.3364 on daily chart. Further fall towards 1.2950 level is still possible next week. Near term support is at the up trend line from 1.2524 to 1.2761, now at 1.3040. For long term analysis, the fall from 1.3364 is treated as in correction to the up trend, and rise above 1.3668 (the top of 2004) to reach the next cycle top on weekly chart is still possible in the next several weeks. We predict the next cycle top on weekly chart would appear after January 2007.

15-12-2006, 22:42	#18
sdotwewen level 2 Join Date: Apr 2006 Posts: 772 Downloads: 0 Uploads: 0 Rep Power: 3	Re: EURUSD long term analysis Key support at 1.3129 is broken below, EURUSD topped at 1.3364 on daily chart. Further fall towards 1.2950 level is still possible next week. Near term support is at the up trend line from 1.2524 to 1.2761, now at 1.3040. For long term analysis, the fall from 1.3364 is treated as in correction to the up trend, and rise above 1.3668 (the top of 2004) to reach the next cycle top on weekly chart is still possible in the next several weeks. We predict the next cycle top on weekly chart would appear after January 2007.