Euro Technical Major Currencies (2010-02-19)

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Morning Report

The pair succeeded in achieving the awaitedbreakout yesterday at 1.3530 that paves the way to near the main primary target at 1.3400. Momentum indicators could push the pair to attempt some bullish correction and retest the breach before resuming the expected bearish intraday that targets levels of1.3400 then 1.3310. Keep in mind today that the daily closingshould remain below 1.3485 reversing the general direction to the downside.

The trading range for today is among the key support at 1.3310 and the key resistance at 1.3630.

The general trend is to the upside as far as 1.3485 remains intact with targets at 1.6000.

Previous Report Weekly ReportSupport1.34301.33601.33101.32701.3240Resistance1.35301.35401.36251.36651.3695RecommendationBased on the charts and explanations above our opinion is selling the pair from 1.3530 targeting 1.3400 and stop loss above 1.3625, might be appropriate.

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