The Euro has been on a tremendous run on the Eur/Usd Pair over the last two weeks. You can see this strong run on the daily chart that there has been have had 10 straight days of gains. What this means for trading is that we are getting to a point of being over bought and we should get a retracement soon. So be on the look out for a downward move. Look at the Fibonacci Retracement on a daily chart and we could see a pull back to the .236 retracement level of 1.4220.
The current resistance level is 1.4763 if we see more upward movement the price will have to go past that point. The current support level for this pair is 1.4161, we should see some selling activity come into play fairly soon. Watch the support and resistance levels to find a good price entry and be aware of current news events and you should be able to trade this pair profitably.
