Technically, the Euro is still in an uptrend if we look at the daily chart since Nov 2008. If we draw a Fibonacci Retracement from July 2008 highs to December 2008 lows. Notice that the FXE went above the 61.8% level momentarily in Sept 2009 before retracing back below this level recently.
What we should be watching for within the next few days will be whether the uptrend is going to continue if FXE gets above 61.8% again. If that happens then 149 could be the next level of resistance.
Up to now, I still haven't seen any signs of a change in trend unless the 20 EMA starts rolling over. Of course that doesn't necessarily have to be so, it could just hang around right about here and go sideways.
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