FXstreet.com (Barcelona) - The Euro has capped its advance against the Dollar at 1.4990 after rising around 180 pips from 1.4810, 1-week low reached yesterday session. The EUR/USD has retreated to test MA200 hourly chart level at 1.4940 and currently the pair is trading around 1.4945/55, 0.45% above today's opening price action.
The FastBrokers Research Team affirms: The EUR/USD still faces multiple downtrend lines along with the highly psychological 1.50 level and previous November highs. However, and a breach beyond our 3rd tire downtrend line could result in a retest of November and October highs with the possibility of more accelerated immediate-term gains. Unfortunately for bulls, the EUR/USD was negated by our 3rd tier downtrend line and 1.50 on Monday, telling us the 1.50 zone continues to have a psychological impact on the currency pair.