Near Term Trend: Positive
Wednesday’s Close: 1.08883 (+20 pips)
UPDATE: Ten weeks ago the Euro had just traded up to 1.08360, we stated, “1.09100 represents key resistance. I don’t expect Euro to trade above that point”.
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- let’s see if this near term strength is maintained?