FX.co ★ EUR/USD Bullish Outlook, June 03, 2011 (Daily Strategy)

EUR/USD

The Euro-United States dollar pair in this moment is negotiating between the levels of 50% to 61.8% Fibonacci retracement. The resistance level of 1.4550 and the 61.8% Fibonacci retracement line could serve as a short input signal to continue the trend that had started to the weekly support line around the 1.4200 level.

Therefore, if the pair continues its upward force would meet strong resistance at 1.4550 levels could a clear opportunity to take short positions.