Home  Long Term Forex Analysis EURUSD Analysis – Jul 30, 2008
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EURUSD Analysis – Jul 30, 2008 |
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Written by ForexCycle.com
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Tuesday, 29 July 2008 |
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EURUSD breaks below 1.5611 support and down trend resumes. Deeper decline towards 1.5302 previous low is possible in next few days. Initial resistance is at 1.5770, rise above this level will signal consolidation to down trend. As long as 1.5770 resistance holds, we'd expect down trend to continue.
For long term analysis, EURUSD broke below 1.5611 support and is back to sideways consolidation. Deeper decline towards 1.5000 level is now in favor.
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