FXstreet.com (Barcelona) - Euro rallied yesterday up to 1.4750 and drew back afterwards. Nicole Elliott, senior technical analyst at Mizuho Corporate Bank, wonders how long that resistance level will hold: Decent resistance at 1.4750 has capped the Euro but the question is for how long. Further out we continue to expect generalised and rather frightening US dollar weakness. Sttrategywise, Elliott advices: Buy at 1.4720 but be prepared to add to 1.4600; stop below 1.4550. Add to longs above 1.4755 for 1.4900 short term.
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