Euro Technical Major Currencies (2011-04-06)

By @ibtimes on

Morning Report

The pair continues its bullish trend from the top previously recorded around 1.4280 due to support from SMA, which maintains trading within the upside channel shown above. Stochastic is showing negative signs that may cause some a minor bearish correction rebound, but in overall we can expect a bullish intraday direction that requires two main factors to prevail; one, a clear breach of 1.4280 and the second is stability above 1.4160.

The trading range for today is among the key support at 1.4160 and the key resistance at 1.4500.

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 ReportSupport1.42201.41601.41051.40501.4005Resistance1.42801.43501.44401.44701.4500RecommendationBased on the charts and explanations above our opinion is buying the pair around 1.4280 targeting 1.4440 and stop loss below 1.4160, might be appropriate.

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