I am looking at the charts for the EUR/USD FOREX pair and notice that the EUR (Euro) has broken some resistance levels against the USD (US Dollar). Within the last 4 hours or so (between 11:00 AM ET to around 3:00 PM ET) it has gone up from around 1.505 to over 1.514 which is about 90 pips on the FOREX trade.
But more significantly, it has broken through some major resistance levels that it had not been able to break earlier. It has also touched a 13-month high which means that the USD is at its lowest against the EUR over the last year. It is consolidating a little around the 1.5135 level. The next resistance levels are at 1.515 and 1.5185.
If it breaks 1.515, I will be getting in with a long position. I have not had good luck in EUR/USD FOREX trading recently, but am willing to forget that and move on.
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