FXstreet.com (Barcelona) - The Euro has been rallying continuously and from 0.8525 low on August 18, to halt at 0.8800 area and pull down to levels around 0.8760, although the pair has picked up and trades at a fresh high 3-month high at 0.8815.
If the pair confirms above 0.8800/05 (Aug 26 high), next resistance levels lie at 0.8865, (Jun 05 high) and 0.8875 (2009 downtrendline).
Nevertherless, Ian Coleman, collaborator at FXstreet.com, adverts about Euro rally giving signs of exhaustion: We have an inside wedge formation showing we may be losing steam. We have failed, as yet, failed to make a new high above 0.8808. If we break down through the wedge I would also look for a break of 0.8762 to signal a possible push down to 0.8700 then 0.8655.