Euro takes full advantage of worn−out dollar

Long signal
Short signal
Buy a break of resistance level at 1.4970
Sell a break of support level at 1.4830
EUR/USD
Buy a break of resistance level at 1.5000
Sell a break of support level at 1.4675
Buy a bounce at 1.4830
Sell a failure of breaking the resistance 1.4970
Fundamental
The U.S. dollar will extend declines as the global economy’s recovery prompts investors to shift away from U.S. assets, according to Pacific Investment Management Co., which runs the world’s biggest bond fund. Fundamental forces are set to put downward pressure on the dollar as the recovery gathers momentum, Pimco’s strategic adviser Richard Clarida wrote on the company’s Web site. Those forces include massive budget deficits, bets the Federal Reserve will keep borrowing costs near zero for an extended period, and prospects for a double-dip recession in the U.S., he said.
Technical
Technical analysis shows the euro may continue its uptrend as MACD giving us a buying signal by crossing the signal line to MACD line upwards, RSI is in an uptrend. We have strong demand in the market as stochastic shows us the market movement and Bollinger gives us a bullish signal by closing the candle above the middle band.
EUR/USD (Daily Chart)
The primary tendency is in a clear uptrend.

EUR/USD (4 Hour Chart)
The pair bounced on Fibonacci 23.6% level.

EUR/USD (Hourly Chart)
The Minor trend forms a lower resistance.

Resistance1.49701.5000
Support1.48301.467