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EURUSD Weekly Analysis - August 14, 2016

Long Term Forex Analysis | by ForexCycle.com | Sunday, 14 August 2016 14:18 UTC
EURUSD is facing the downward trend line resistance again. A clear break above the trend line resistance will indicate that the downtrend from 1.1616 had completed at 1.0911 already, then the following upward movement could bring price to 1.2000 zone. On the downside, as long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 1.0600 area.

eurusd chart

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