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Forex4you Technical Analysis 4 Sep 2012

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Forex4you Technical Analysis 4 Sep 2012

Postby albie » Tue Sep 04, 2012 11:43 am

EUR/USD: Technical Analysis

The EUR/USD is still in a counter-trend rally. It is unlikely to be the start of a new trend higher and therefore will probably roll-over. Currently there is a possibility the pair could be starting a move down to 1.2550. If it goes below there it would constitute a break of the neckline of a double top pattern and target 1.2475. If the trend continues tracking higher, however, it could also reach resistance from the upper channel line at 1.2650.

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Analysis by: Joaquin Monfort
Forex4you analyst

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albie
 
Posts: 12
Joined: Thu Oct 28, 2010 11:01 am

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