EURUSD
The Euro is trading sideways after it managed to recover off its lows Vs the dollar. Support was found at 1.3450 backed by 1.3435, 1.3415 and 1.3400. Resistance emerges at 1.3470 followed by 1.3500 and 1.3530. Daily sentiment remains bearish and unchanged and only a close near the half of 1.35 may signal a reversal. Hourly sentiment is slightly bearish too. The dollar lacked the strength to break the 1.3450 since yesterday when it’s been reached. While the mentioned support holds, the Euro may recover and climb towards the 1.3500-1.3530 area. On the other side, a break below 1.3450 may encourage a new test of yesterday’s low in the 1.3415 area. We are expecting the Euro to remain in the range set on yesterday. Current exchange rate is 1.3457 @ 06:00 GMT
Trading strategies:
Long in the 1.3450 area, stop at 1.3430, objectives at and above 1.3490.
