EURUSD might be forming a cycle bottom at 1.4524 on daily chart. Key resistance is now at 1.4770, a break of this level would confirm the cycle bottom, and further rise towards 1.4966 is expected to follow. Near term support is at 1.4524, only fall below this level would indicate lengthier correction to the up trend, and delay the resumption of the up trend. For long term analysis, EURUSD is in consolidation to the long term bullish movement, and further rise towards 1.6000 to reach the next cycle top on weekly chart can be seen after consolidation.
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