FXstreet.com (Barcelona) – The Euro has risen around 30 pips in the last hour against the Dollar from 1.4215 to test intra-day highs at 1.4245. Currently pair is trading close to 1.4230/40, posting 0.20% daily gains from opening price action.
During the European session, EUR/USD has been trading in a narrow range between 1.4215 and 1.4230, consolidating levels above 1.4200 after recovering from 1.4175, yesterday's low.
Greg Holden, analyst at ForexYard, expects a Dollar higher: “The price of this pair appears to be floating in the over-bought territory on the daily chart's RSI indicating downward correction may be imminent. The downward direction on the hourly chart's Momentum oscillator also supports this notion. When the downwards breach occurs, going short with tight stops appears to be preferable strategy.”
