Forexzilla.org

EUR/USD is in range for the last 3 months. Technically the uptrend is still intact, but the fundamentals are changing. Almost all the bad news for the US economy are priced in. Everybody knows that the FED will continue to cut rates. The question now is when will see the spillover effect of the subprime crisis to the EU economy. First support is 1.4650, then 1.4510. If the market breaks below 1.4310 it will form a double top on weekly chart with target around 1.37. First resistance is 1.4780, the 1.4920. If the market breaks the all time high @ 1.4967 the magical 1.5000 will be difficult to overcome for the run towards 1.5200. The big guys know their game and probably the Big figure will be broken some Sunday night.