Euro Technical Major Currencies (2011-01-25)

By @ibtimes on

Morning Report

The pair was able to stabilize above 1.3600 supported by the bullish intraday direction, alongside the MA 50. More bullish movement is expected today due to the bullish technical pattern that has breached 1.3425, where targets today start around 1.3830. We point out the importance of stability above 1.3580 in order for expectations to resume.

The trading range for today is among the key support at 1.3425 and the key resistance at 1.3900.

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

Previous Report

Weekly ReportSupport1.35801.35001.34251.33651.3310Resistance1.36651.37151.37601.38301.3865RecommendationBased on the charts and explanations above our opinion is buying the pair around 1.3580 targeting 1.3830 and stop loss below 1.3425, might be appropriate.

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