EURUSD: Resumes Long Term Uptrend, Eyes Further Upside Gains.

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EURUSD: EUR has resumed its long term uptrend after rallying back above the 1.4266/79 levels, its key resistance level in early morning trading today. A firm hold above that level on a weekly closing basis will build a base for further strength towards the 1.4576 level, its Jan 2010 high.

Guest post by www.fxtechstrategy.com

Above this level will pave the way for more gains towards the 1.4902 level. Alternatively, on further pullbacks, its broken resistance at the 1.4266/79 levels should reverse roles and provide support if tested.

Other supports are located at the 1.4103 level followed by the 1.3852 level, its Mar 15’2011 low. All in all, EUR looks to strengthen further having resumed its long term uptrend.

 

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Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

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