E-Forex - The Euro continues to climb higher versus the greenback, now building support into the 1.55 zone. If the support at 1.5500 holds, then the Euro may put some pressure on the 1.5550 resistance and then higher to 1.5600-1.5620 on a successful break. Although medium term sentiment is bearish, the dollar selloff is emerging while the oil prices continue to trade into record highs. More upside seem favored for now but downside risk is high as the current downtrend is strong on the medium term studies and the current Euro recovery may be a simple correction.
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