Weekly Report 03 - 07 / May / 2010
The pivotal support 1.0025 shown in our past reports is showing strong resistance against the pair, therefore pushing the pair to move in an upside volatile manner to near the sensitive horizontal resistance at 1.0200. The ongoing bullish pressure in addition to signs for a bullish technical pattern currently appearing, while in return momentum indicators are showing negative signs that support the mentioned resistance level's strength, where these crossover signs make us recommend observing upcoming trading to await for more assurance. The required levels that need to be observed are between resistance 1.0200 and support 1.0100.
The trading range for today is among the key support at 0.9930 and the key resistance at 1.0390.
The short term trend is to the downside as far as 1.0780 remains intact with targets at 0.9705.
Previous ReportSupport1.01001.00401.00000.99300.9865Resistance1.02001.02651.03151.03651.0445RecommendationBased on the charts and explanations above our opinion is to follow up on our daily report for more affirmation, might be appropriate.