FXstreet.com (Barcelona) - The Euro is rising fast today's European morning against the Dollar and, after testing intra-day low at 1.4967, pair has jumped around 80 pips to trade above MA55 hourly chart at 1.4980, breaks previous highs at 1.5020 and hit 1.5045 as fresh highest level since Oct 26.
Currently the pair is trading around 1.5030/40, 0.30% above today's opening price action at 1.4990.
According to Nicole Elliott, analyst at Mizuho Corporate Bank, Attempt small longs at 1.4975, stop below 1.4800 is a good option: Consolidating neatly just under this year's high at 1.5064 amid generalised US dollar weakness. The Euro is not overbought and bullish pressure has increased slightly, as should implied volatility. Strategy: Attempt small longs at 1.4975; stop below 1.4800. Short term target this year's high at 1.5064, then more.