FXstreet.com (Barcelona) - The Euro has reached a fresh all-time high in the US session and, according to the ActionForex Technical Team., the intraday bias remains on the upside: Intraday bias remains on the upside as long as 1.5890 minor support holds. Further rally could still be seen. Nevertheless, the overall outlook remains unchanged.
The ActionForex team, however, warns about a sharp decline over the next sessions: Price actions from 1.5342 is unfolding as a diagonal triangle which will conclude a larger five wave rally. The current rally is still expected to be relatively short-lived and another steep fall should be around the corner.