Forex Education Trading Strategies : EURUSD: Holds On To Gains, Looks To Consolidate

EURUSD- While a convincing break of the 1.4159/60 zone, representing its 1.618 Fib Ext (Daily Chart)/Oct 22’95 high is yet to be seen,EUR is susceptible to downside corrective move in the near term as a result of its recent run to the upside(off 1.3551 low) and overbought conditions now displayed on the daily chart. In such a situation, the nearby support at the 1.4130 level, which marks its Sept 24’07 high, will be the first place to aim at with a loss of there paving the way for additional