FXstreet.com (Barcelona) - Euro - Dollar rally has been capped at 1.4965 fresh 14 month high, which has withstood two attacks in the last two days, and the pair has eased to levels around 1.4900, trapped between 1.4880 and 1.4925/30, where the 20 and 50 hour SMA stand.
Greg Holden, technical analyst at ForexYard warns about a bearish cross on daily charts: Here is a fresh bearish cross forming on the daily chart's Slow Stochastic indicating a bearish correction might take place in the nearest future. The downward direction on the 4-hour chart's Momentum oscillator also supports this notion.
At the moment, teh Euro trades at 1.4910 with next support levels at 1.4885.90, and below here, nextt support levels are 1.4835/45 (Oct 14/15 high) and 1.4810. On the upside resiistance area lies ar 1.4825/30 and above here, 1.4965 (Oct 15/Intra-day high) and 1.4980 (Aug 13 08 high).