Euro Technical Major Currencies (2011-03-31)

By @ibtimes on

Morning Report

The pair is trading to the upside to breach the minor downside channel's resistance that is forming a continuous flag pattern, this factor alongside support offered from SMA 50 make us expect a bullish intraday movetargeting 1.4280 & 1.4365. Stability above 1.4100 is required for our expectations to prevail.

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 1.2795 remains intact with targets at 1.5135.

Previous Report

Weekly ReportSupport1.41451.41001.40401.40051.3970Resistance1.41601.42201.42801.43501.4420RecommendationBased on the charts and explanations above our opinion is buying the pair around 1.4145 targeting 1.4280 and stop loss below 1.4040, might be appropriate.

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