FXstreet.com (Barcelona) - The Euro has recovered its previous losses against the Greenback in the last hour after bouncing at intra-day low at 1.7480 to rise 55 pips to trade above 1.4800, close to 1.4830. Currently the pair is trading around 1.4825/35, reaching 0.05% gains so far today from opening price action at 1.4825.
According to Nicolle Elliott, Analyst at Mizuho Corporate Bank, the EUR/USD could rise back to 1.5000: Hovering below 'channel' support, trying to base against the top of the Ichimoku 'cloud' and retracement support, and yesterday's 'doji' adds weight to this view. Should we hold above 1.4800 today expect a squeeze to 1.4900, and then probably more.
Elliot provides us with her strategy: Buy at 1.4835; stop below 1.4750. Short term target 1.4900, then 1.5000.