Forex: EUR/USD: Break above 1.5060 will lead to re-test of 1.6040 - Finacial Trend Analysis

Wed, Nov 4 2009, 12:30 GMT
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FXstreet.com (Barcelona) - The Euro has resumed its bullish trend after testing the bullish trendline on a minor correction last week,m¡ according to the Financial Trend Analysis team, aiming towards to 1.5090 level.

If the Euro manages to break 1.5090, a retest of all time high around 1.6040 will follow, according to the Financial Trend Analysis team: " A break above resistance level at around 1.5090 will fuel the bullish trend to test last years all time high at around 1.6040 which we expect to be broken."

On the downside, the Financial Trend Analysis team points out to 1.4480: "A break below 1.4480 will demolish the bullish picture and a larger correction down to at around 1.3860 could be seen."

EUR/USD

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