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EURUSD Weekly Analysis - May 10, 2014

Long Term Forex Analysis | by ForexCycle.com | Saturday, 10 May 2014 14:56 UTC
After touching 1.3966 resistance, EURUSD pulled back from 1.3993, indicating that lengthier consolidation of the uptrend from 1.2747 (Apr 4, 2013 low) is underway. Deeper decline would likely be seen over the next several weeks, and the target would be at 1.3500 area. Key resistance is now at 1.3993, only break above this level could trigger another rise towards 1.4500.

eurusd chart

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