EUR/USD Continues Uptrend.

The EUR/USD has started higher once again after bouncing off of the1.4100 level. Resistance is currently at 1.4160. A break above this level would signal a move to 1.4220-1.4240. Beyond this there is little resistance till 1.4350.

With the daily average range sitting just below 150 pips the pair is not likely to move beyond 1.4300 unless there is a significant surprise in economic news due out of the US today.

A sustained move below 1.4100 will likely trigger stops down to the
1.4070 level and would target 1.4040 if rates continue lower. Beyond this 1.4400 should slow further falls.

The trend is up and a rise is more likely than a decline.

Forex Analysis by Dr. Sivaraman at ForexPros. com. For more details about Forex Trading and Tips for decent earnings through Forex Trading, Please check forexpros. com