The Euro broke resistance specified in yesterday's report 1.3174, and came very close to hitting the suggested target of 1.3200, but it stopped (for the second day in a row) only 6 pips before it, before retreating significantly to 1.3181. The fact that the rising move is slowing down warns of a possible correction for the whole rise from Friday's low. Such a correction would be a violent one, with its size a little less than 200 pips, since its ideal target is at 1.3086. Therefore, we should keep eyes & mind open today, and consider all scenarios, and keep separate trading plans ready. What is requested from the Euro now is to break the resistance 1.3227 which it is trading almost 20 pips below. This resistance is the key to more fireworks, and is the key to 1.33. If broken, we will target 1.3311 first, and at a later time 1.3383 as well. On the other hand, correction possibilities remain weak as long as we are trading above 1.3153. But if broken, we will be already in a short term correction, which will ideally target the single most important support for now 1.3086. And if this one is also broken, we will drop to test Friday's low 1.2979.

Support:

1.3153: Fibonacci 38.2% for the rise from Friday's low.

1.3086: the rising trend line from Jun 29th low, and Fibonacci 61.8% retracement level for the rise from Friday's low. The single most important support for the time being.

1.2979Friday's low, and the launch point of this recent rising move.

Resistance:

1.3227: the falling trend line from yesterday's high on intraday charts.

1.3311: Mar 24th low.

1.3383: Mar 31st low.