Forex | Forex | Fores: EUR/USD posts 1.4152 as 3-week high (30/06/2009 06:37:00)

Fores: EUR/USD posts 1.4152 as 3-week high

FXstreet.com (Barcelona) - After trading in a small range between 1.4100 and 1.4130, EUR/USD has finally broken up the zone to post 1.4152 as fresh 3-week high. EUR/USD is posting 0.25% daily increases from opening price action, recovering from 1.3983 yesterday's low.

According to Nicole Elliott, analyst at Mizuho Corporate Bank, Attempt longs at 1.4100 is the best option with today's higher Euro: "Rallying slowly from retracement support and looking set to move a little higher again today. Only a weekly close above 1.4200 will really get things going and another big round of short-covering. Hopefully a whole host of other currencies will join in with this move adding momentum. Attempt longs at 1.4100, adding to 1.4000; stop below 1.3800. Short term target 1.4135, then 1.4300/1.4339."


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