FXstreet.com (Barcelona) - The Euro is losing ground against the Dollar, according to Steven Wesiak, technical analyst at ABN AMRO, the momentum is bearish and the European currency could dip lower: Prices are heading south again after a lower top formed at 1.4860. Holding below it keeps a downwards correction scenario in place meaning that levels could slip below the last low at 1.4714 and then decline further to 1.4589 before finally bottoming out. On the way up, Wesiak affirms: On the upside, a push past 1.4785 cools off the downswing slightly. But, only a break above 1.4860 will shake off sellers completely and likely lead to the elimination of the 1.4968 top and a push up towards a projected possible resistance at 1.5100.
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