EURUSD
The Euro continues to trade near multi-week lows Vs the US dollar orbiting around 1.3450. Support is seen at 1.3435 backed by 1.3420 and 1.3400. Resistance emerges at 1.3470 followed by 1.3500 and 1.3530 higher. Daily sentiment is bearish and there are no clues of a potential reverse, hourly sentiment is slightly bullish. We are expecting the dollar to resume its rise against the Euro and reach 1.3365 where a key support is seen on the weekly charts. An Euro recovery is possible after reaching the said support. Looking on the smaller time frame charts, it seems that 1.3470 is a strong barrier so far and while it holds, there are good chances of a 1.3435 break. Current exchange rate is 1.3459 @ 06:02 GMT
Trading strategies:
Short in the 1.3480 area, stop at 1.3510, objectives at and below 1.3440.
