Euro Technical Major Currencies (2011-04-27)

By @ibtimes on

Morning Report

The pair continued the upside move towards the 1.4700 at the time negative pressure is seen from momentum indicators. This negativity might pressure a slight downside correctional move towards 1.4600 beforeresuming the intraday upside move todaytargeting 1.4850. Stability above 1.4600-1.4580 is required for our expectations to prevail.

The trading range for today is among the major support at 1.4580 and the major resistance at 1.4900.

The short term trend is to the upside with steady daily closing above 1.2795 targeting 1.5135.

Previous Report

Weekly ReportSupport1.46501.46001.45801.45201.4470Resistance1.47251.48001.48501.49001.4995RecommendationBased on the charts and explanations above we recommend buying the pair around 1.4600 targeting 1.4725 and stop loss below 1.4520 might be appropriate

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