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sdotwewen · 28-07-2007, 00:05

EURUSD broke below 1.3750 key support and topped at 1.3851 on daily chart. Further fall towards 1.3550 area to reach the next cycle bottom is expected to follow next week. Near term resistance is at 1.3740 and key resistance is at 1.3851, only break above the key resistance will signal the resumption of the up trend. For long term analysis, EURUSD is in long term bullish movement. The fall from 1.3851 is treated as consolidation to the long term up trend, up trend will resume after consolidation and rise towards 1.4500 to reach the next cycle top on weekly chart is still in favor.

28-07-2007, 00:05	#88 (permalink)
sdotwewen level 2 Join Date: Apr 2006 Posts: 837 Rep Power: 3	Re: EURUSD long term analysis EURUSD broke below 1.3750 key support and topped at 1.3851 on daily chart. Further fall towards 1.3550 area to reach the next cycle bottom is expected to follow next week. Near term resistance is at 1.3740 and key resistance is at 1.3851, only break above the key resistance will signal the resumption of the up trend. For long term analysis, EURUSD is in long term bullish movement. The fall from 1.3851 is treated as consolidation to the long term up trend, up trend will resume after consolidation and rise towards 1.4500 to reach the next cycle top on weekly chart is still in favor.