Forexzilla.org

Interesting developments in EUR/USD these days. Yesterday’s price action confirmed the beginning of a correction of the recent $ strenght. EUR was helped by ECB’s Weber’s hawkish comments about the inflation and rates. EUR/USD must break above 1.4810 for further advance towards 1.4910/15 and 1.5130. Rising tensions in Black Sea, between Russia and US/West over Georgia, could weigh on EUR and the rally attempt could fail. Some tug of war type price action is possible in the net few days. Use stops and don’t be greedy! Support is @ 1.4710, 1.4630 and 1.4530.