EURUSD Weekly Analysis - June 14, 2014

Long Term Forex Analysis | by ForexCycle.com | Saturday, 14 June 2014 13:33 UTC
EURUSD is testing 1.3477 key support, a breakdown below this level will indicate that the uptrend from 1.2747 (Apr 4, 2013 low) had completed at 1.3993 already, then the following downward movement could bring price to 1.1500 area. However, as long as 1.3477 support holds, the price action from 1.3892 could be treated as consolidation of the uptrend, one more rise to 1.4500 area to complete the upward movement is still possible. Near term resistance is at 1.3680, a break above this level could bring price to test 1.3993 previous high resistance.

eurusd chart

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