Forexzilla.org

EUR/USD posted new low yesterday but the a short squeeze in EUR/JPY caused a rally in the major pair above 1.4000. The forex market is still wondering if the USD strenght should continue or a correction should follow. Economic data from US are not positive but the rest of the world may be in much worse state. If EUR/USD could break above 1.4040/50 we may see the beginnign of the long awaited corection. Next upside targets are 1.4180 and 1.4385. Support is @ 1.3970, 1.3880/50.