EURUSD
The dollar continued to advance Vs the Euro and it is now trading around the 1.3420 mark. Support is formed by 1.3415 backed by 1.3400, 1.3380 and 1.3350. Resistance emerges at 1.3450 followed by 1.3470 and 1.3500. Momentum is bearish on both hourly and daily studies. The support at 1.3415 was stable so far and it held the tests made during the last trading sessions but a break may occur soon and the dollar may extend towards the half of the 1.33 area. On the other side, the Euro has to break through both 1.3450 and 1.3470 and close near the 1.35 or even above it in order to signal a sentiment change on the daily charts, clue of a potential end of the current Euro decline. While the 1.3450 resistance remains intact, the first scenario is more likely to occur, the downside being favored. Current exchange rate is 1.3423 @ 06:01 GMT
Trading strategies:
Short in the 1.3445 area, stop at 1.3475, objectives at and below 1.3400.
