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sdotwewen · 19-06-2007, 22:35

No changed in our view, EURUSD is in down trend, the rise from 1.3263 is treated as consolidation to the down trend. Further fall towards 1.3200 is still in favor after consolidation. Near term resistance is at the down trend line from 1.3681 to 1.3553, now at 1.3500, only break above the trend line resistance will signal the reversal to the down trend. For long term analysis, EURUSD is falling to the next cycle bottom on weekly chart, long term support is at the up trend line from 1.1825 (Feb 27, 2006 low) to 1.2483 (Oct 13, 2006 low), fall below the trend line support will more likely be seen and long term target will be above 1.2865.

19-06-2007, 22:35	#78 (permalink)
sdotwewen level 2 Join Date: Apr 2006 Posts: 837 Rep Power: 3	Re: EURUSD long term analysis No changed in our view, EURUSD is in down trend, the rise from 1.3263 is treated as consolidation to the down trend. Further fall towards 1.3200 is still in favor after consolidation. Near term resistance is at the down trend line from 1.3681 to 1.3553, now at 1.3500, only break above the trend line resistance will signal the reversal to the down trend. For long term analysis, EURUSD is falling to the next cycle bottom on weekly chart, long term support is at the up trend line from 1.1825 (Feb 27, 2006 low) to 1.2483 (Oct 13, 2006 low), fall below the trend line support will more likely be seen and long term target will be above 1.2865.