Tuesday, September 15, 2009

Forex: Euro rises to 1.4678, fresh 2009 high

Tue, Sep 15 2009, 17:47 GMT

FXstreet.com (Córdoba) – The rise in equities is sending Greenback down across the board. EUR/USD recently broke above 1.4652 to 1.4678, posting a fresh high for the year. The pair is now 0.25% above today’s opening price and is extending a seven day rally. On the upside the next resistance lies at 1.4700 and above at 1.4715 (Dec 18 high).

The FastBrokers Research Team affirms: “Technically speaking, the EUR/USD is still riding high off of last Tuesday’s breakout to the topside. The currency pair continues to set higher lows while trading above the psychological 1.45 level. We still place significance on Tuesday’s movement since the EUR/USD leapt to new 2009 highs. There aren’t any concrete, historical downtrend lines we can cross through present ranges. Hence, the medium-term uptrend is clearly intact. “

EUR/USD (Sep 16 at 05:31 GMT)

1.4678/79 (0.10%)

H 1.4685 L 1.4655

[?]Trend Index[?]OB/OS Index
Strongly BullishNeutral
Data updated on Sep 16 at 05:15 (15-minute timeframe)

[ View EUR/USD technical studies ]

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