EURUSD Analysis – September 26, 2009

EURUSD may be forming a cycle top at 1.4843 level on daily chart. Range trading between 1.4500 and 1.4843 would more likely be seen next week. However, the price action from 1.4843 is treated as consolidation of uptrend from 1.3748, further rise towards 1.5200 region is still possible after consolidation.

For long term analysis, EURUSD remains in long term bullish movement from 1.2456, further rise is possible to 1.5200-1.5500 area in next several weeks.

eurusd daily chart