May 6, 2011

EURUSD Correction in a Bull Market

  • EURUSD pair has given a breakdown from the range it was trading in hour chart. Price has also fallen below 200 Hour moving average. These two support levels may act as resistance levels now.
  • Daily chart shows good correction, But Price has not violated the trend line yet. Unless price violates the trend line this can be considered as a correction in a bull market.

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