EURUSD
The Euro rallied on Friday and continued the climb on today’s Asian session, breaking 1.38 and testing 1.3850, the all-time record high. Support is now seen at 1.3800 backed by 1.3770 and 1.3740. Resistance starts at 1.3820 and it is followed by 1.3850 and 1.3900 higher. Daily sentiment is bullish and the hourly is neutral at the time of this writing. Now that the Euro is so close to the record high after recovering so fast, we believe that there are good chances for a break and test of 1.39 even 1.4 quite soon these days. It depends on the support levels at 1.3800 and 1.3770. While they hold, 1.3850 will be tested again and we expect it to break. On the other side, a potential break of the 1.3800 and 1.3770 support levels, would bring the 1.3700 lows back on our attention. Current exchange rate is 1.3817 @06:15 GMT
Trading strategies:
Long in the 1.3805 area, stop at 1.3775, objectives at and above 1.3855.
