FXstreet.com (Barcelona) - The Euro remains trading in range, capped below 1.5000, although the upward trend seen in daily studies suggests the possibility of a break to next highs later on, according to Nicole Elliott, technical analyst at Mizuho Corporate Bank.

According to Elliott the Euro is giving signals to think about an upward attempt towards year high at 1.5065: Little to add as we consolidate neatly under this year's high at 1.5064 and above the 26-day moving average. Rising trendline and the Ichimoku 'cloud' will provide support and suggest a long position for a break to new highs later on. In the meantime allow for more sideways work.

Concerning strategy, Elliott suggests to attempt longs at 1.4925 targeting 1.5000 or higher: Attempt small longs at 1.4925; stop below 1.4800. Short term target 1.5000/1.5055, eventually more.