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EURUSD’s uptrend from 1.4626 extended to as high as 1.5020

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November 10th, 2009, 4:21 am | By forexcycle | Published in Daily Technical | No Comments »

EURUSD’s uptrend from 1.4626 extended to as high as 1.5020. Further rise to test 1.5062 is possible later today. Support is now located at the rising trend line from 1.4626 to 1.4811, as long as the trend line support holds, we’d expect uptrend to continue, however below the trend line support will suggest a minor consolidation is under ways, then pullback to 1.4920-1.4950 is expected to follow.

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