FXstreet.com (Córdoba) - The Euro is rising further against the Dollar during the American session. EUR/USD rose to 1.4960, only a few pips below intra-day high that lies at 1.4965. If the pair rises further the next resistance are located at 1.4980 (Aug 13 08 high) and 1.5000. Dollar failed to hold below 1.4900 and lost previous gains. The pair trades at 1.4945/50, 0.05% above today's opening price. The Euro is rising for the fourth consecutive day.
The ecPulse.com analysis team affirms: The euro-dollar pair traded with a downside bias, seen over daily charts. However, on the 4-hours and 1-hour charts the pair is inclining. The pair is moving in an overbought area after the euro has risen to 14-month high against the dollar. The euro area released today's CPI for September showing a decline and raising concerns. Trichet mentioned today that too much volatility in FOREX markets is an enemy threatening economic stability.