Near Term Trend: Neutral to Positive
Fridayâ€™s Close: 1.07738 (- 36 pips)
UPDATE: Seven weeks ago the Euro had just traded up to 1.08360, we stated, â€ś1.0910 represents key resistance. I donâ€™t expect Euro to trade above that pointâ€ť.
Subsequently for the past seven weeks the Euro has remained well below that point, but this past week rallied two big figures and is fast approaching key resistance at our black proprietary line (1.08800).