December 23, 2010

EURUSD Chart analysis

  • EURUSD may end correction near 78.6% again. 
  • Price is forming a falling wedge which is a bullish reversal pattern.
  • Breaking the resistance line will be positive and should take out the dotted resistance line for a meaningful up move to happen.
  • Breaking the support line will be negative but may find support near 78.6% Fibonacci level

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