Euro / Dollar Technical Forex Analysis for Forex Traders

The Euro broke the support 1.3618 and traveled more than half the way to the target 1.3544 (yesterday's low 1.3572). The modest drop came after 1.3653 successfully reversed the short term direction. That is why we will consider this top to be resistance of the day. If the price continue to show strength, and broke this resistance, the current rise will go on for the short term at least. We see today's most important target for such a break will be the test of the falling trend line from 1.3838, which is currently at 1.3737. And if broken the next target will be 1.3810. But if 1.3653 holds, and succeeds in reversing short term correction, then the price will fall to support 1.3612, and if broken the targets will be 1.3544 (which may be an ideal target for such a drop, and then 1.3491.