FXstreet.com (Barcelona) - The Euro registered its fifth consecutive week of gains against the Dollar, according to Cornelius Luca, economist at Global Forex Trading, aiming to a fresh all time high: Euro/dollar registered its fifth consecutive week of gains on its way to a new record high. My model remains long since February 14, but I prefer to reduce long positions as the pair is very overbought. Resistance levels, in Luca's view, stand as follows: Initial resistance is at 1.5770. Above 1.5850, resistance now comes at 1.5950. Distant resistance is still seen at 1.6165.
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