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sdotwewen · 22-05-2007, 22:59

EURUSD broke below the previous low support at 1.3461. Further fall towards 1.3250 can be expected. Near term resistance is at 1.3609 and key resistance is at 1.3681, only break above the key resistance will signal the reversal to the down trend. No changed in our long term view. The pair topped at 1.3681 on weekly chart, and the rise from 1.2865 (Jan 12 low) completed at 1.3681 level. Further fall towards the up trend line from 1.1825 (Feb 27, 2006 low) to 1.2483 (Oct 13, 2006 low) to reach the next cycle bottom on weekly chart can be seen in the next several weeks.

22-05-2007, 22:59	#70
sdotwewen level 2 Join Date: Apr 2006 Posts: 817 Downloads: 0 Uploads: 0 Rep Power: 3	Re: EURUSD long term analysis EURUSD broke below the previous low support at 1.3461. Further fall towards 1.3250 can be expected. Near term resistance is at 1.3609 and key resistance is at 1.3681, only break above the key resistance will signal the reversal to the down trend. No changed in our long term view. The pair topped at 1.3681 on weekly chart, and the rise from 1.2865 (Jan 12 low) completed at 1.3681 level. Further fall towards the up trend line from 1.1825 (Feb 27, 2006 low) to 1.2483 (Oct 13, 2006 low) to reach the next cycle bottom on weekly chart can be seen in the next several weeks.