E-Forex - The Euro declined on Friday after it reached a record high at 1.4970. Support is now formed at 1.4800 backed by 1.4780 and 1.4750. Resistance starts at 1.4840 followed by 1.4880 and 1.4900 and 1.4940. The daily momentum is still bullish and it will remain so while the Euro holds above the lower half of the 1.47 area. Hourly sentiment is slightly bearish at the time of this writing.