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Forex4you Technical Analysis 24 January 2011

EUR/USD: Technical Analysis

We have had another retracement this morning which looks like it still has lower to go. A possible target for the drop could be trend-line support at 1.3525. After that it is likely the uptrend will resume perhaps reaching the substantial resistance levels in the 1.37s. There is also a small possibility that this fall is part of a larger reversal which could break lower and target support and resistance in the 1.3440s.



Analysis by: Forex4you.com written by Forex4you analyst

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