FX.co ★ EUR/USD Bullish Outlook September, 07 2011

EUR/USD

On the short graph 4 hours for the euro – United States dollar pair we can see that the wave of price drops was stopped exactly at the support level of 1.3975. It is still to early to state with any degree of certainty if the euro – dollar pair has established strong enough foundation in order to change its direction and begin, once again, to move upwards towards its previous record levels in the region of 1.4525. In the short term, there is a very good chance for a move that can be expected to reach the resistance level of, at least, 1.4360 euro to the dollar.