Forex Trading

The Euro fluctuated in a tight range, breaking both the support & resistance specified in yesterday's report, without reaching the target in either cases, and without any large moves to follow the breaks. Short-term support is still at 1.4975 where there is the moving average SMA100, and the previous support. If broken, the Euro will probably fall today in a correction for the last move up from 1.4625, targeting 1.4886 & 1.4836 and may be the most important support for medium-term currently at 1.4786. In this case, the later will become a crucial support, for setting the direction for the next few days, because breaking it would indicate that the drop from 1.5047 is not just a correction.