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TFC Commodity Trading Forum

the forex daily analysis *LINK* *PIC*

EURUSD failed to break above 1.3864 resistance, indicating that the pair remains in downtrend from 1.3905, the rise from 1.3785 could be treated as consolidation of the downtrend. As long as 1.3864 resistance holds, the downtrend could be expected to resume, and one more fall to 1.3750 area to complete the downward movement is still possible. On the upside, a break above 1.3864 resistance will indicate that the downtrend had completed at 1.3785 already, then the following upward movement could bring price to 1.4000 zone.

UDUSD stays in a downward price channel on 4-hour chart, and remains in downtrend from 0.9461. Resistance is located at the upper line of the channel, as long as the channel resistance holds, the downtrend could be expected to continue, and the target would be at 0.9250 area. Key resistance is at 0.9377, only break above this level could signal completion of the downtrend.