EURUSD long term analysis

[sdotwewen]

EURUSD pulls back sharply to 1.4008 level. Deeper decline is still possible to test 1.3881 previous low support in a couple of days. As long as this level holds, the fall from 1.4867 is treated as correction to up trend, and one more rise above 1.4867 is still in favor. However, below 1.3881 will signal resumption of down trend, and target would be at 1.3500 zone.

For long term analysis, EURUSD formed a cycle bottom at 1.3881 on weekly chart. Consolidation in a range between 1.3881 and 1.6038 (July 15 high) is expected in next few months. However, fall below 1.3881 will signal deeper fall towards 1.3500 level.

http://www.forexcycle.com/content/blogsection/4/65/

[sdotwewen]

EURUSD breaks below 1.3881 previous low support and reaches as low as 1.3702 level. Deeper decline is now in favor, and target could be seen to 1.3000-1.3200 area. Initial resistance is now located at 1.3980 and followed by the down trend line from 1.6038 to 1.4867, as long as 1.3980 resistance holds, we'd expect down trend to continue.

For long term analysis, EURUSD breaks below 1.3881 and is back to long term bearish movement. Further fall towards 1.3000 to reach next cycle bottom on weekly chart is now in favor.

http://www.forexcycle.com/content/blogsection/4/65/

[sdotwewen]

EURUSD's down trend extends further to 1.3258 level. Initial resistance is now located at 1.3785, as long as this level holds, we'd expect down trend to continue and further decline is still possible next week, target would be at 1.3000 zone.

For long term analysis, EURUSD is in long term bearish movement, further fall towards 1.3000 zone to reach next cycle bottom on weekly chart is expected in a couple of weeks.

http://www.forexcycle.com/content/blogsection/4/65/