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9:30 Est.

Casey Stubbs-Winners Edge Trading

The Eur has been been moving sideways of late we will see if the pair moves back to challenge the earlier highs set.

Here are the daily resistance and support levels.

Sup 2 1.3113
Sup 1 1.3174
Spot 1.3245
Res 1 1.3343
Res 2 1.3592


Check the lower trend line on the chart if that gets broken to the downside we could see more dollar gains. If there is a bounce off of the trend line we could see more eur gains up to 1.3700 area or higher.

240 min chart.

9:00am Est

Casey Stubbs-- Winners Edge Trading

The pair is rebounding off of a slight pull back and we could see the Eur/Usd move up to the 1.4000 mark this week.

Casey Stubbs -- Winners Edge Trading

8:30 am Est

This morning the news to watch is new home sales. If the number is better than expected we could see a move in the Euro or if the number is worse than expected I think the Dollar could move higher. This is because of risk aversion and traders putting money in the Dollar because it is viewed as a safe haven.

The key support level to watch in this mornings trading is 1.3414 if the pair breaks this we could see more lows.

The nearest resistance is 1.3531 the pair has been moving lower since the highs of last week. This most recent resistance must be broken before we will see more movement to the upside.

10 min chart ...

Casey Stubbs-- Winners Edge Trading

The Eur/Usd:
is currently at 1.3541 and is looking to challenge the resistance level of 1.3649 the pair just challenged the support level of 1.2500 and if that lower level breaks we could see a target of 1.3423.

The Euro (EUR) was mixed as profit taking hampered further gains and the market asked questions about the next move the ECB will make. Both cutting rates or QE from the ECB will lead to Euro weakness and may cap gains on the back of this equity rally