EURUSD
The dollar advanced a little Vs the Eur on yesterday and the daily low has been set at 1.3406, not breaking the key support at 1.3410 yet. Support is currently noticed at 1.3410 backed by 1.3380 and 1.3350. Resistance emerges at 1.3440 followed by 1.3460, 1.3500 and 1.3520. Daily sentiment remains bearish, hourly momentum being slightly bullish at the time of this writing. The pair is closer and closer to the 1.33 area and it doesn’t give any signs, yet, which may point our attention towards a potential Euro recovery. There are many important economic events during the upcoming trading sessions this week and we expect the pair to break the range of 1.3406-1.3520. If the dollar will resume its rise during the next hours, we will probably assist to a breakout which will accelerate the Euro decline towards the 1.3380 mark where an important fibonacci retracement is seen. Current exchange rate is 1.3433 @ 06:04 GMT
Trading strategies:
Short in the 1.3450 area, stop at 1.3475, objectives at and below 1.3410.
