FXstreet.com (Barcelona) - The Euro reached yet another record yesterday, and, according to Nicole Elliott, senior technical analyst at Mizuho Corporate Bank, the single currency has gone into overbought territory: Yet another new record high at 1.4731, the Euro is somewhat overbought, zero resistance levels and all too many who are late to the party, yet the Euro refuses to lie down. It remains well bid at these record highs and would benefit from a bout of consolidation. Concerning strategy, Elliot advices: Possibly attempt tiny longs on a dip to 1.4625; stop below 1.4600. Target 1.4750, maybe 1.4950.
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