Euro Technical Major Currencies (2011-03-29)

By @ibtimes on

Morning Report

The pair since yesterday has been trading positively, where it currently is trading above SMA along with stabilizing above 1.4080 representing the neckline for the minor bearish technical pattern that has been deactivated. In return, Stochastic is showing overbought signs and thereby, negatively pressuring the pair. We remain observing intraday trading due to the conflict between technical factors we possess.

The trading range for today is among the key support at 1.3970 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 ReportSupport1.40801.40051.39701.39001.3860Resistance1.41351.41701.42201.42801.4350RecommendationBased on the charts and explanation above our opinion is observing the pair’s movement and upcoming daily reports to insure its upcoming direction.

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