On Tuesday Euro/Dollar continued increasing significantly with almost 150 pips. The European currency appreciated from 1.2951 to 1.3099 yesterday, matching the positive money flow sentiment at over +27%, closing the day at 1.3052. This morning the Euro ascended even further, lifting to 1.3124.
On the 1 hour chart quotes are still held within the trading range, while on the 3 hour chart the upward channel is making renewal attempts. Break above the nearest resistance and today's top at 1.3124 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.2951, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2837.
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