The Euro dropped and broke the specified support in Friday’s report 1.4877, successfully reaching the first suggested target 1.4820. But it stayed above the most important support 1.4786. Short-term support is provided by the rising trendline from Friday’s low on intraday charts, and if broken we will get another chance to test 1.4786 after Friday’s attempt that stopped at 1.4800.

The above mentioned support will stay the most important, especially with the rising line from August 17th low getting close to this level. Short-term resistance is 1.4952, and if it is overtaken, then the technical outlook will have the strength to reach 1.5018 first, and if this is broke we have the right to expect 1.5082 for the first time this year.

Support:

• 1.4881: the rising trendline from Friday’s low on intraday charts.

• 1.4820: November 13th low.

• 1.4786: Fibonacci 61.8% for the rising move from 1.4625, the most important support for the medium-term.

Resistance:

• 1.4952: the falling trendline from 1.5047.

• 1.5018: Nov 9th & 10th high.

• 1.5082: previous resistance from 2008.