The Euro gained momentum the past 4 weeks against the Dollar but looking at the Volume the short term trend for the next few days indicates The Euro cooling off for a little bit. After this it can go two ways looking at the resistance points. It will depend on the News coming from the United States. The news should also be slightly in favour of the USD as the protests are coming to an end.
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We've seen the cooling off of the EUR against the USD as predicted, so now we've hit a resistance point of 9 June at 1.12471
We've got to keep a close eye on this as the situation is still uncertain. Either we will hit the next resistance point of 4 June or we will go up again to 1.140, it will all depend on the market sentiment. So we must follow the news during this weekend and look at volume.