Today's Support and Resistance Levels: 

S1: 1.5096 (possible bottom)  R1: 1.5175

S2: 1.5045                                   R2: 1.5225

S3: 1.5000                                   R3: 1.5270

Technical Overview:
The break below 1.5131 signified that the decline from 1.6969 still had not found its final low. That said, after the break below 1.5131 we saw a perfect decline to the next support at 1.5096, which could mark the next bottom, however we now need a break above 1.5175 and more importantly 1.5225 to get the first signals that the test of 1.5096 possibly marked an important low.
As long as minor resistance at 1.5225 protects the upside we could see more downside pressure, but the downside momentum is clearly weakening on all time-frames, indicating a bottom should be in place soon.

Trading Recommendation:
Our stop at 1.5125 was hit yesterday. We will be looking for a new EUR buying opportunity at 1.5180 with a low risk stop at 1.5115.

Performed by Analytical expert: Torben Melsted
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