EUR/USD Stays In Upward Price Channel
Franco Shao | Oct 07, 2013 09:33PM ET
The EUR/USD stays in an upward price channel on the 4-hour chart, and remains in an uptrend from 1.3105. As long as the channel support holds the price action from 1.3568 could be treated as consolidation of the uptrend, and one more rise towards 1.3700 is still possible after consolidation. On the downside, a clear break below the channel support will indicate that the uptrend from 1.3105 had completed at 1.3646 already, then the following downward movement could bring price to 1.3300 zone.
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