EUR USD reaches its highest price of this year at 1.4445. After a good Bullish rally yesterday price is stagnated around 1.4445 and has started coming down and has already reached 1.4000. The price is wandering around 1.4426 Monthly Resistance 1 and 1.4399 Weekly Resistance1. The position traders who were on long trades are advised to tighten the stop loss or treat it as the time to take profit. Also is expected to go short to a maximum of 1.3000 once the trend sets in. The previous highest peak of EUR USD was on 18th Dec. 2008 at around 1.4720 so we might expect a few more highs before it actually goes short. But considering short trades or getting ready for the short trades won’t be a bad idea. Happy Trading.
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