Near Term Trend: Positive
Wednesdayâ€™s Close: 1.08883 (+20 pips)
UPDATE: Ten weeks ago the Euro had just traded up to 1.08360, we stated, â€ś1.09100 represents key resistance. I donâ€™t expect Euro to trade above that pointâ€ť.
Subsequently for the past eleven the Euro has remained well below that point, until briefly this past week.
Key resistance at 1.08800 has been violated- letâ€™s see if this near term strength is maintained?