FXstreet.com (Barcelona) - The Euro's decline from yesterday high at 1.5015 has continued further today's Asian and European session with the pair falling around 150 pips to trade below 1.4900 level and hits intra-day low at 1.4870. Currently the pair is trading on daily lows, around 1.4870/80, 0.65% below opening price action at 1.4970.
Ian Coleman, Analyst at Turtle Futures, comments: We have hit some resistance at 1.4920 (was resistance now support). I am expecting a break here then looking to take off half the trade at 1.4893 (which is the daily trend line). If we break there it should be impulsively and take us down to 1.4696, my third wave target, pretty quickly.