EUR/USD Continues Higher To 1.1187
Jason Sen | Apr 30, 2015 08:09AM ET
EUR/USD has trend line resistance at 1.1175 but be ready to go with a break above 1.1187, despite overbought conditions, to target 1.1220 and 1.1240/45. Any further gains run in to strong longer term resistance at 1.1290/1.1300. This is a major challenge for bulls and a high for the day very possible. Try shorts with wide stops above 1.1330.
First support at 1.1095/90 on any profit taking today but below here risks a slide to good support at 1.1035/30. Watch for a low for the day but longs need stops below 1.1010. Next support at 1.0990/85 must hold the downside or the outlook is more negative and risks a slide to strong support at 1.0940/35.
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