The Euro broke the resistance specified in yesterday's report 1.4942 and reached the first target suggest for his break 1.5014 with good accuracy (yesterday's high was 1.5018). Yesterday's target will be today's resistance, and if broken we expect this rise to go on, reaching new highs that we have not seen this year, first of which is 1.5082, then 1.5144.

The most important support for the next few hours will be the rising trendline from November 3rd bottoms, which is at 1.4925 currently. In case it is broken, the Euro will face a correction on the short-term horizon that will target Fibonacci 38.2% for the short-term at 1.4821, at least, and could reach 61.8% at 1.4746. In this case, the latter will be the most important support for the short-term because staying above means this drop is only a correction, while breaking it means it is more than a correction.

Support:

• 1.4925: The bottom of the rising channel from Nov 3rd lows.

• 1.4821: Fibonacci 38.2% for the last rising move.

• 1.4746: Fibonacci 61.8% for the last rising move.

Resistance:

• 1.5014: previous resistance from 2008.

• 1.5082: previous resistan4ce from 2008.

• 1.5144: previous support from 2008.