The Euro declined on yesterday reaching lows at 1.5510 but then recovered during the US session and erased all its losses, closing into the 1.5670 area. Strong intra-day barrier is formed by 1.5700 so far and a break higher into the second half of the 1.57 area is needed to confirm a resume of the uptrend on a short-term basis. Such break higher would point our attention at 1.58 and above as there may occur some new tests. Support is currently seen at 1.5635 backed by 1.5595 then 1.5550 and

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This entry was posted on Friday, April 4th, 2008 at 3:04 am and is filed under Forex Trading Strategies. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.