MoneyTec Traders Community Forum - View Single Post

sdotwewen · 23-01-2007, 22:10

Key resistance at 1.3014 is broken above, EURUSD bottomed at 1.2865 on daily chart. Further rise towards the top of the price channel to reach the next cycle top is possible in the next several days. Key support is at 1.2865 only break below this level may signal the resumption of the down trend. For long term analysis, EURUSD is in up trend, the fall from 1.9364 is treated as in correction to the up trend, and further rise above 1.9364 to reach the next cycle top on weekly chart can be expected next month.

23-01-2007, 22:10	#26
sdotwewen level 2 Join Date: Apr 2006 Posts: 731 Downloads: 0 Uploads: 0 Rep Power: 3	Re: EURUSD long term analysis Key resistance at 1.3014 is broken above, EURUSD bottomed at 1.2865 on daily chart. Further rise towards the top of the price channel to reach the next cycle top is possible in the next several days. Key support is at 1.2865 only break below this level may signal the resumption of the down trend. For long term analysis, EURUSD is in up trend, the fall from 1.9364 is treated as in correction to the up trend, and further rise above 1.9364 to reach the next cycle top on weekly chart can be expected next month.