FX : EUR/USD falls to test 1.4900 after testing YTD high 1.4970
Euro has been unable to break 1.4970 resistance today's early Asian session and, after testing yesterday's high at this level, pair has begun to fall during the Asian and early European morning to falls below 1.4900 level. Currently the pair is trading around 1.4885/95, 0.30% below today's opening price action at 1.4937.
Carol Harmer, analyst at Charmer Charts.com, comments: "Eur/Usd has a toping pattern on the hourly charts at 1.4970 and unless the market can climb and hold back above this resistance then you are going to see a day of declines with 1.4845/40 the immediate short term objective."
In the long-term forecast, Rob Booker, founder of TraderRadio.net, expects the EUR/USD falling to 1.3500 level: ""Currently the EUR/USD is trading approximately at 1.4900, my prediction is that Euro will fall to 1.35, maybe 1.40 in the last months of the present year".
