FXstreet.com (Barcelona) - The Euro gained yesterday 540 pips after the Fed published its quantitative easing plan, which hammered the dollar across the board and propelled the Euro to levels above 1.3500.

According to the E-Forex team, the pair is approaching key levels for a major upside move: Key resistance formed by the median retracement of the large 1.4720-1.2455 move comes at 1.3590, followed by another important barrier at 1.3855. Breaking above the said upside objectives will confirm the medium term positive sentiment, intensifying further upside activity towards 1.4360 and 1.4720.

On the downside, the E-Forex team advices to wattch the following levels: On the downside, support will be faced on potential pullbacks at 1.3330 then 1.3200 and 1.3080.