Weekly Report 13 - 17 / December / 2010

The pair opened over an intraday and weekly basis over a price gap below the intraday channel's support level, which has currently turned into resistance at 1.3205. The MA 50 is negatively pressuring the pair; whereas stochastic is giving off positive bullish signs. The crossover signs appearing now make us recommend observing trading and following up on our daily reports in order to receive reassuring signs of the upcoming direction.

The trading range for today is among the key support at 1.2965 and the key resistance at 1.3585.

The short term trend is to the upside as far as 1.2795 remains intact with targets at 1.5135.

Previous Report

Support1.31751.31201.30801.30351.2990
Resistance1.32051.32601.33051.33651.3425
RecommendationBased on the charts and explanation above our opinion is observing the pair’s movement to insure its upcoming direction.