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EURUSD Weekly Analysis - June 19, 2016

Long Term Forex Analysis | by ForexCycle.com | Sunday, 19 June 2016 14:40 UTC
EURUSD is testing the support of the price channel on daily chart. As long as the channel support holds, the fall from 1.1616 could be treated as consolidation of the uptrend from 1.0517, one more rise to 1.2000 area to complete the upward movement is possible over the next several weeks. Key support is at 1.1097, only break below this level will indicate that the uptrend is complete, then the following downward movement could bring price back to 1.0000 zone.

eurusd chart

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