Euro Technical Major Currencies (2011-03-24)

By @ibtimes on

Morning Report

The pair continued its bearish pressure from yesterday to halt as seenon the image above around SMA, which is forming good support around 1.4075. This support along with clear oversold signs appearing on Stochastic make us expect a bullish intraday direction, starting with initial targets around 1.4280; whereas breaching 1.4075 will force it to revisit the upside channel's support level around 1.3940.

The trading range for today is among the key support at 1.3940 and the key resistance at 1.4365.

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 ReportSupport1.40751.40001.39401.39001.3860Resistance1.41351.42151.42401.42801.4365RecommendationBased on the charts and explanations above our opinion is buying the pair around 1.4075 targeting 1.4280 and stop loss below 1.3940, might be appropriate.

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