The Euro has been correcting against the US dollar for the fourth day in a row. . Correction has reached strong support at 1.1155. The longer the price consolidates around and 1.1162 1,1130 marks, the bigger is the possibility of the rebound up. Potential growth targets are situated at 1.1300, 1.1390, 1.1560.

Alternative scenario: the breakout of the 1.1150 ascending trend line will trigger continuation of the downtrend with the next decline targets at 1.1130, 1.1020.

By Theodoros  Batsoulis
Technical Analyst
Risk Market
www.riskmarket.co.uk