FXstreet.com (Barcelona) - The Euro lost positions yesterday against the Dollar to recover somewhat afterwards. Lviu Flesar, technical analyst at E-Forex affirms: The Euro declined on yesterday versus the greenback and it reached 1.4580 before it started to recover and aim towards the mid 1.46 area. Support is formed at 1.4640 backed by 1.4610 and 1.4580. Resistance starts at 1.4670 followed by 1.4700 and 1.4735. Momentum is negative on the daily and 4 hours charts. For the next sessions Flesar expects the Euro to go through a consolidation trend: Looking at the daily charts, we believe that the current Euro consolidation will continue and the pair will remain in the range of 1.4580-1.4740. As seen on the previous days, the Euro lacks the strength to exit the range by breaking the resistance levels formed in the mid 1.47 area.
Join the Discussion