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01-05-2006, 00:11
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#1
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Forex Cycle Analysis
EURUSD rose sharply last week. The uptrend remains and further rise towards 1.2750 is possible after a slightly pullback to 1.2550 area. Key support is at 1.2403, only fall below this level will break the up trend to begin a bearish movement.
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01-05-2006, 21:19
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#2
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Re: Forex Cycle Analysis
EURUSD is topping on 4 hours chart. It will form a sideways consolidation in the next several days, and the up trend line support will be tested. On the other side, the up trend may resume after this consolidation, initial resistance is at 1.2688, only rise above this level may turn price back towards 1.2750.
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02-05-2006, 21:06
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#3
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Re: Forex Cycle Analysis
EURUSD is forming a sideways consolidation, and is topping on 4 hours chart, key support is at 1.2553, a break below this level will signal the cycle top. On the other side, the up trend may resume after this consolidation, initial resistance is at 1.2688, only break above and hold this level may turn price back towards 1.2750.
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03-05-2006, 20:46
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#4
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Re: Forex Cycle Analysis
EURUSD is forming a sideways consolidation, and is topping on 4 hours chart, key support is at 1.2553, a break below this level will signal the cycle top. On the other side, the up trend may resume after this consolidation, initial resistance is at 1.2688, only break above and hold this level may turn price back towards 1.2750.
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04-05-2006, 21:33
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#5
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Re: Forex Cycle Analysis
As expected, EURUSD is supported by the rising trend line and up trend resume again. The 1.2688 resistance is broken above, EURUSD will move higher into 1.2750 area. Key support now is at 1.2569, as long as the rising trend line support holds, uptrend will continue. On the other side, the cycle top is likely coming soon, EURUSD may bull back from 1.2750 area to retest the key support of 1.2569.
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07-05-2006, 20:33
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#6
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Re: Forex Cycle Analysis
EURUSD has risen above 1.2750, and further rise towards 1.2800 is possible if initial support of 1.2674 holds. On the other side, the cycle top is likely coming soon, EURUSD may pull back from 1.2800 area to retest the key support of 1.2569.
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08-05-2006, 22:28
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#7
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Re: Forex Cycle Analysis
EURUSD may be topping on 4 hours chart, key support is at 1.2569, a break below this level will signal the cycle top, and the up trend line support may be broken soon. Only rise above 1.2786 may turn price back towards 1.2820 area.
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09-05-2006, 21:13
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#8
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Re: Forex Cycle Analysis
EURUSD is supported by the up trend line, further rise towards 1.2800 area is possible. Key support is now at 1.2661, it may have a pullback from 1.2800 area and retest the key support, the up trend line may be broken soon.
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