EURUSD Technicals Weekly - 1.3017 could produce an important low if reached
24 August 2014, 18:11
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- “Long term, a failed breakout and top would keep with the pattern of 3 year cycle tops. 1.3750 is an important reference point (year open).”
- The break of 1.3476 completed a topping process with targets of 1.3294 (origin of diagonal), 1.3209 (2 equal legs), and 1.3012 (head and shoulders target). 1.3476-1.3512 is now resistance and 1.3017 (50% retracement intersects with reaction area) is a target.
