FXstreet.com (Barcelona) - The Euro is building up slowly on early European session, and, after having breached Asian session top at 1.4735, the pair advanced to 1.4760, right below Oct 27 low at 1.4765.

At the moment, the pair trades around 1.4750, with next resistance level at 1.4765 (Oct 27 high), and in case of breaking above there, 1.4800/10, and 1.4845 (Oct 26 low). On the downside, support levels lie at 1.4685 session low, and below here, next support levels could lie at 1.4670 (Oct 9 low) and 1.4650 (Oct 7 low).

On a bigger picture, Ian Coleman, technical analyst at Turtle Futures, observes tho possibility of having reached solid support level at 1.4700: On the Daily chart we have reached our solid trend line support again. This is the bottom of the large ascending wedge which we expect to break to the downside. I do not think this will happen on the first attempt. Looking at the 1 hr chart we have been in a great downward channel since the break.

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