The Euro is trying at this very moment to break the falling trendline from Aug 27th high, which is a trendline that frustrated the Euro on several occasions recently. If it succeeds, there will be a big probability to surpass 1.4405 and head towards areas above 1.45 for the first time this year, where targets such as 1.4510 and 1.4572 are waiting. To consider that this line is broken, we need to see a break of 1.4338.

If this line survives another test and managed to stop the Euro once more, we will head to
1.4295 and a break here then we will see a correction of Friday's rise, targeting 1.4245 ideally. If this is the case then this support will be very important to decide short- term's direction. But even if such a drop happens, it will not distort the technical image before breaking 1.4245, since approaching this support and not breaking it would be a positive sign for the Euro, giving it the ambition of flying above 1.45.

Support:

• 1.4295: Intraday low after Friday's jobs report.

• 1.4245: Fibonacci support 61.8%, the most important support for short-term.

• 1.4183: September's 1st low.

Resistance:

• 1.4328: the falling trendline from Aug 28th high, most important resistance for now.

• 1.4412: Aug 7th high.

• 1.4446: the upper limit of the wide and crowded resistance area 1.4362-1.4446.

Forex Analysis by Cory Mitchell at ForexPros. com. For more details about Forex Trading and Tips for decent earnings through Forex Trading, Please check Forexpros. com