EURUSD
The Euro rallied Vs the dollar on yesterday by breaking the resistance level at 1.3460, barrier which we considered important on deciding if the Euro is ready to recover and focus towards the 1.36 area within the next days. So far, it seems that it’s been a false breakout because the dollar recovered and the pair is once again consolidating around the 1.3450 mark. Support is now seen at 1.3438 backed by 1.3410 and 1.3380. Resistance emerges at 1.3457 followed by 1.3472 and 1.3520. Hourly sentiment is bearish, daily studies are slithgtly bearish too. A daily close above the 1.35 level is needed to confirm a momentum reverse on the daily charts. While the pair remains under the 1.3500 barrier, it stays on a fragile ground and a break of 1.3438 may encourage a test of 1.3410 later. The downside is favored still. Current exchange rate is 1.3444 @ 06:00 GMT
Trading strategies:
Short in the 1.3465 area, stop at 1.3495, objectives at and below 1.3415.
