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May 28th, 2012, 3:00 am | By forexcycle | Published in Daily Technical | Comments on this postNo Comments »

EURUSD stays below a downward trend line on 4-hour chart, and remains in downtrend from 1.3283, and the fall extends to as low as 1.2496. Another fall would likely be seen after a minor consolidation, and next target would be at 1.2400 area. On the upside, a clear break above the trend line will indicate that the downtrend from 1.3283 has completed at 1.2496 already, then the following upward movement could bring price back to 1.3400 zone.

eurusd

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forexcycle Forex Cycle. See more Forex Analysis from forex cycle.

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