EUR/USD 1.4779 - 3 November 2009

After the ascending correction of the Euro/Dollar at the end of last week, the currency couple dropped first on Monday, as expected, reaching a bottom at 1.4682, than climbed up to the 1.4840 top, closing the day at 1.4770. On the 3 hour chart chart the Euro is in a critical phase, where quotes are testing upper limit of the downward channel at 1.5044, which appears to be a key resistance in the long run. Any possible bearish outlook would be wiped out if the resistance is broken up. As for now, the bullish momentum looks strong enough, with targets towards 1.4840. The nearest support is yesterday's bottom 1.4680. Break bellow this level may shake the bullish perspectives and creates downward movements with possible test of 1.4550. The CCI indicator has crossed up the 100 line on the 1 hour chart, indicating ascending pressure.
Technical resistance levels: 1.4840 1.5000 1.5125
Technical support levels: 1.4680 1.4550 1.4415

Yesterday we made +43 pips profit on EUR/USD from the following signal:
5:56 GMT+1 Sell EUR/USD at 1.4778 SL 1.4804 TP 1.4728 exited at 7:17 GMT
Total yesterday +165, as shown in details at www.zifx.com/performance.php.