(1,3545) The EUR/DOLL failed also yesterday to move below the now strong support area at 1,3460; while above this support on a daily closing we have to expect further upside potential. The monthly closing was strong above the top of the previous month but only a monthly closing above 1,3711 will support higher levels. We have still an open gap up in Europe of about 80 pips. The indicators of the daily chart are still well positive as well as those of the monthly one supporting further strength. The indicators of the s/t charts are instead showing a mixed picture suggesting further consolidation/ correction. The EUR/DOLL is well bid this morning but still expect good resistance at 1,3570, only an hourly closing above this level will support a extension of the move up suggesting a retest of the 1,37 level!! We stay short.
Read the full report: EURUSD 10.01
Future Trend