EURUSD
The Euro climbed into the 1.29 area on yesterday, establishing the daily high at 1.2907. Support was found at 1.2845 and 1.2820. We are expecting the first support level, at 1.2845, to support the Euro on the further potential tests above 1.29. Major resistance is seen at 1.2970. After losing most of its strength because of the narrow ranges and all the declines seen during the past days, daily momentum starts turning bullish once again. Current exchange rate is 1.2887
Trading strategies:
Long in the 1.2870 area, stop/reverse below 1.2845, objective at and above 1.2910. In case of a successful test of 1.2910, extended objectives may aim towards 1.2940. A reverse at 1.2840 may target 1.2790
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