EURO/USD Daily

R3: ?

R2: ?

R1: 1.5300/10

Current Price: 1.5268

S1: 1.5240/50

S2: 1.5200

S3: 1.5140/50

Rate scores another high with no relief in sight near-term. Sentiment getting extreme and regardless of how bullish someone is they are staying away as this kind of price action is very unlikely and unusual. Rally off the lows driven by model and momentum accounts first getting stopped out of longs and then re-setting them traders say. Volumes into the highs not impressive and stops still building on either side making for potentially violent trade. Aggressive traders can sell over the 1.5200 handle.

Analysis by: Jason Alan Jankovsky in Association with The Forex Edge

Publisher: ForexPros.com

Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.