EURUSD is facing resistance
byon November 30th, 2011 at 11:22 PM (6592 Views)
EURUSD is facing resistance of the price channel on 4-hour chart, a clear break above the channel will indicate that the downtrend from 1.4246 had completed at 1.3212 already, then the following upward move could bring price to 1.3900 area. As long as the channel resistance holds, the rise from 1.3212 is treated as consolidation of downtrend, and one more fall to test 1.3146 (Oct 4 low) support is still possible.
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