Last week, the pair broke the short channel that had been in place since December 3rd. Today, the 200 days MA are acting as a resistance in the daily chart, trying to send the price to 1.42 dollars per euro. The euro traders are consolidating 1.436 to go up to 1.4481, with the fibo 23.6% (marked from 1.5147 to 1.4222) already cleared. Despite that, last week it tried to consolidate many times 1.4408, with no success, which can be interpreted as a small range. Below, the first step would be breaking 1.436 to slide to 1.4331/15, an area of resistance a few days ago. A strong short movement will to take into account last week's supports at 1.4275 and 1.4231. Above, once 1.4481 is consolidated, the support from the 15th and 16th, at 1.4513, will be the target.

EURUSD

Forex Trader Library
Receive over 15 hours (8 CD's) of our best Forex trading education in one package! Containing the newest Advanced Forex CD, this education pack focuses on exactly what you need to know to become a successful Forex Trader.