EURUSD’s Downward Movement Extends To 1.3539
Franco Shao | Oct 31, 2013 11:45PM ET
EUR/USD
The EUR/USD’s downward movement from 1.3832 extends to as low as 1.3539. A deeper decline to test 1.3462 support is possible, as long as this level holds, the fall could be treated as consolidation of the longer term uptrend from 1.2756 (Jul 9 low), one more rise towards 1.4000 is still possible after consolidation. On the downside, a breakdown below 1.3462 support will indicate that the uptrend from 1.2756 had completed at 1.3832 already, then the following downward movement could bring price to 1.2500 zone.
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