Consolidation for the euro above 1.4500The euro has broken through resistance in [B]forex trading[/B] at 1.4500, and is prepared to move higher, probably after a period of consolidation. Indeed, the euro appears to be having a good chance of consolidation as dollar weakness continues today.
Right now, the euro is moving forward on momentum. GFT’s [B]Boris Schlossberg[/B] takes some time in FX360 tolook at the euro in forex trading:
Having cleared the key technical barriers of at 1.4500, the trade in [B]EUR/USD 
has now entered pure momentum territory,[/B] a dynamic that academics call price-to-price feedback with pair rising simply because it has already risen.
If the [B]stock market[/B] manages to continue to make gains today (in spite of futures pointing to a lower open), it is possible that the euro gains even more support in forex trading.
[B]See Also[/B]
[ul]
[li]Euro in Forex Trading[/li]Currency trading on the FX market
[/ul]