Today we analyse in detail how the Euro FX future has been moving over the last 3 months. Below you will find an interesting candlestick monthly chart. The 4-hour candle is representative enough to give us an idea of the path this future is following. We can recognise 5 different levels that have influenced the euro dollar future: the first level at 1.4200is far from the are where the future is trading now. This level supported the uptrend from August till mid-September, then on Sept 8th the currency went up, broke the resistance set at 1.4395 and drown a long white candle. Since September the euro/dollar future has never traded below 1.45, demonstrating how strong this support is. Finally, in October and November, area 1.4640 has been pushing up the Future, where now it is also supported by a dynamic support.

If December contract manages to break up the resistance at 1.4850, it will probably trade again towards the highs at 1.50, that's where we should try to place a winning trade.

S1=1.4640 T1=1.4850 T2=1.5050

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