Mon, Oct 1 2007, 09:26 GMT
http://www.fxstreet.com
FXstreet.com (Barcelona) – The Euro’ upward trend has been renewed after September’s correction; Ted Wilson, technical analysts of iForex affirms: “Last week the EUR/USD sharply rose and overcame the resistance level 1.4205 and the psychological level 1.4250, after which it reached new historical level 1.4271.” About the daily trend, Wilson adds: “On a daily time frame the upwards trend accelerated but the Euro gets into overbought zone. Rising above 1.4282 may provoke further upward movement to the upper limit 1.4302. Going under 1.4195 may give signal for correction of the currency couple.”
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