Daily Forex Analysis - August 6, 2008

EURUSD Analysis.
EURUSD broke below 1.5515 support and extended further to 1.5445 level. Deeper decline towards 1.5302 (June 13 low) is still possible in a couple of days. Initial resistance is at 1.5515 and followed by 1.5631, as long as 1.5631 resistance holds, we’d expect down trend to continue.

20080806_eurusd_1

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This entry was posted on Wednesday, August 6th, 2008 at 2:27 and is filed under Short Term Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

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