EURUSD Analysis, Daily Forex Analysis, August 23rd 2010

23 August 2010 @ 05:26 am EDT

EURUSD broke below 1.2734 support last week, suggesting that a cycle top had been formed at 1.2921 already and the downtrend from 1.3333 had resumed. Deeper decline is expected in a couple of days and next target would be at 1.2600 area.

For more forex information, go to www.forexcycle.com

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