EURUSD long term analysis

[sdotwewen]

EURUSD is testing the previous high resistance at 1.5902, as long as this resistance holds, the rebound from 1.5342 is treated as correction to the down trend. However, a break of 1.5902 level will signal the resumption of the up trend and further rally to 1.6500 area is expected to follow.

For long term analysis, EURUSD is forming a long term cycle top at 1.5902 level on weekly chart. Long term key support is now located at 1.5342, a break below this level will indicate that the long term up trend from 1.1639 (Nov 2005 low) has completed, and pull back to 1.4000 area is expected to follow.

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

[sdotwewen]

EURUSD failed to test the previous high resistance at 1.5902 and pulled back from 1.5896 level. Further fall to test 1.5342 long term key support is possible, a break of this level will signal the resumption of the down trend, and deeper decline to 1.4600 area is expected to follow. Key resistance is at 1.5902, a break of this level will indicate that the long term up trend has resumed, and further rally to 1.6500 area could be seen

For long term analysis, EURUSD is forming a long term cycle top at 1.5902 level on weekly chart. Long term key support is now located at 1.5342, a break below this level will indicate that the long term up trend from 1.1639 (Nov 2005 low) has completed, and pull back to 1.4000 area is expected to follow.

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

[sdotwewen]

EURUSD traded in a range between 1.5342 and 1.5902 for 3 weeks. Pullback to retest 1.5342 key support would more likely be seen next week and a break of this level will signal the reversal to the long term up trend. Key resistance is at 1.5902, only break of this level will indicate that the long term up trend has resumed, and further rally to 1.6500 area could be seen.

For long term analysis, EURUSD might be forming a long term cycle top at 1.5902 level on weekly chart. Long term key support is now located at 1.5342, a break of this level will indicate that the long term up trend from 1.4309 (Dec 20, 2007 low) has completed, and pull back to 1.4000 area is expected to follow.

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

[sdotwewen]

EURUSD is forming a sideways consolidation in a range between 1.5342 and 1.5902. Pullback to retest 1.5342 is still in favor in the next several days and a break of this level will signal the reversal to the long term up trend. Key resistance is at 1.5902, only break of this level will indicate that the long term up trend has resumed, and further rally to 1.6500 area could be seen.

For long term analysis, EURUSD might be forming a long term cycle top at 1.5902 level on weekly chart. Long term key support is now located at 1.5342, a break of this level will indicate that the long term up trend from 1.4309 (Dec 20, 2007 low) has completed, and pull back to 1.4000 area is expected to follow.

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

[sdotwewen]

EURUSD broke above 1.5902 and pulled back from 1.5913 level. Further rally to 1.6200 area to reach the next cycle top on daily chart is still possible after consolidation. Near term support is at 1.5510 and key support is at 1.5342, only break of the key support will signal the reversal to the long term up trend.

For long term analysis, EURUSD is in long term up trend. Long term key support is located at 1.5342, a break of this level will indicate that the up trend from 1.4309 (Dec 20, 2007 low) has completed, and pull back to 1.5000 area is expected to follow.

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

[sdotwewen]

EURUSD breaks above 1.5902 previous high resistance and its up trend resumes. Further rise to 1.6200 area to reach the next cycle top on daily chart is now in favor. Near term support is now at the up trend line from 1.5342 to 1.5510 and followed by 1.5510. Key support is located at 1.5342, a break of this level will signal the reversal to the long term up trend.

For long term analysis, EURUSD is in long term up trend. Long term key support is located at 1.5342, a break of this level will indicate that the up trend from 1.4309 (Dec 20, 2007 low) has completed, and pull back to 1.5000 area is expected to follow.

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

[sdotwewen]

EURUSD's up trend remains and the pullback from 1.5983 is treated as correction to the up trend. Further rise to 1.6100 area to reach the next cycle top on daily chart is still possible after correction. Near term support is at 1.5510, and key support is at 1.5342, a break below the key support will signal the reversal to the long term up trend.

For long term analysis, EURUSD is in long term up trend. Long term key support is located at 1.5342, a break of this level will indicate that the up trend from 1.4309 (Dec 20, 2007 low) has completed, and pull back to 1.5000 area is expected to follow.

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

[sdotwewen]

EURUSD's up trend extends to as high as 1.6019 level. Initial support is at the up trend line from 1.5342 to 1.5710. As long as the trend line support holds, we'd expect up trend to continue and further rise to 1.6200 area to reach the next cycle top on daily chart is possible. Only break below 1.5710 level could signal the reversal to the long term up trend.

For long term analysis, EURUSD is in long term up trend. Long term key support is located at 1.5342, a break of this level will indicate that the up trend from 1.4309 (Dec 20, 2007 low) has completed, and pull back to 1.5000 area is expected to follow.

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