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Daily Forex Analysis – July 30, 2008

EURUSD Analysis.
EURUSD broke below 1.5611 (July 7 low), suggesting that the up trend from 1.5302 (June 13 low) has completed and down trend has resumed. Deeper decline towards 1.5302 previous low is now in favor. Initial resistance is at 1.5768, as long as this resistance holds, down trend will continue.

20080730_eurusd_1

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