EURUSD
The Euro extened its gains towards the 1.2175 level and reached the mid term resistance formed by the downward trendline started at January’s highs extended through current March highs, now seen at 1.2170. We mentioned about this resistance on our weekly report,
in which we also mentioned about the triangle formed on the daily charts. We expect the current resistance at 1.2170 to be strong enough and encourage a potential decline towards the 1.2000. Intraday support is currently seen at 1.2110 followed by 1.2090 and 1.2030. Resistance is seen at 1.2070 and 1.2210. Current exchange rate is 1.2141
Trading strategies:
Short in the 1.2150 area, stops above 1.2170, objectives at and below 1.2100.
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