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Euro remains close to daily high, forming a small continuation flag in the 4 hours chart; fighting also with the 38.2% retracement of the last upleg, and after rebounding in the 20 SMA, pair is set to continue to the upside. I guess lower stocks around the world is what’s capping the rally at this point. Break above high will find next resistance around 1.4890, followed by 1.4925 and 1.4960. Supports come at today’s low 1.4810, 1.4770 and 1.4740.
Respected Valeria,
Do u think that eur/usd will go down today and in next few days?
Your analysis is appreciated.
Regards
Adnan Butt
Hi Adnan, well taking notice of current levels, seems likely if moves under mentioned 1.4770 level. Will depend also on daily close; if the pair regains 1.4810, chances of further falls are more limited; to be honest, I do expect a strong fall in euro, still no confirmations of such movement from a technical point of view. I will add a link to my last daily report in a few minutes, and you cna read my ideas about Euro
Regards
Val