Daily Forex Analysis ? February 28, 2011

EURUSD Analysis. Being contained by 1.3861 resistance, EURUSD pulled back from 1.3837, suggesting that lengthier consolidation of uptrend from 1.3428 is underway. Deeper decline towards the lower border of the price channel on 4-hour chart could be seen. As long as the channel support holds, we’d expect uptrend to resume, and another rise towards 1.4000 [...]

Source: http://blog.forexcycle.com/5970/daily-forex-analysis-february-28-2011/

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