Euro Technical Major Currencies (2011-02-11)

By @ibtimes on

Morning Report

The pair continued its bearishness and now attempting to breach the neckline at 1.3575 and stabilize below it. In addition to the neagtive pressure from the SMA 50 we still expect a bearish intraday directiontargeting initially 1.3400 - 1.3365. Our expectations require stability below 1.3640.

The trading range for today is among the key support at 1.3365 and the key resistance at 1.3715.

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 ReportSupport1.35001.34251.33651.33101.3260Resistance1.35751.36401.37151.37551.3785RecommendationBased on the charts and explanations above our opinion is selling the pair around 1.3575 targeting 1.3400 and stop loss above 1.3640, might be appropriate.

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