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sdotwewen · 19-12-2006, 21:16

EURUSD is bottoming at 1.3051 on daily chart, key resistance is at 1.3364, a break above this level may confirm the cycle top. Near term support is at the up trend line from 1.2524 to 1.2761. For long term analysis, the fall from 1.3364 to 1.3051 is treated as 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.

19-12-2006, 21:16	#19
sdotwewen level 2 Join Date: Apr 2006 Posts: 724 Downloads: 0 Uploads: 0 Rep Power: 3	Re: EURUSD long term analysis EURUSD is bottoming at 1.3051 on daily chart, key resistance is at 1.3364, a break above this level may confirm the cycle top. Near term support is at the up trend line from 1.2524 to 1.2761. For long term analysis, the fall from 1.3364 to 1.3051 is treated as 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.