EUR/USD Strengthens After Friday's Fed Meeting

EUR/USD Open 1.4492 High 1.4513 Low 1.4327 Close 1.4493

On Friday Euro/Dollar increased with 175 pips after Bernanke's speech. The European currency appreciated from 1.4327 to 1.4502 on Friday, matching the positive Interbank sentiment projection at over +2%, closing the week at 1.4493. This morning the Euro has ascended further against the Dollar, reaching up to 1.4513. On the 1 hour chart quotes are still testing the upper limit of the trading range, while on the 3 hour chart trading is within wider range. Break above the nearest resistance and today's top at 1.4513 may trigger further strengthening of the Euro. Going bellow Friday's bottom and first support at 1.4327, however, would confirm continuation of the bearish trend, towards next objective downwards 1.4214. Today's focus is on Italy Consumer confidence, and Germany CPI and HICP, at 8 and 12 GMT respectively. Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is positive and calm, while CCI has crossed up the 100 line on the 1 hour chart, giving overall long signals.
Technical resistance levels: 1.4513 1.4630 1.4751
Technical support levels: 1.4327 1.4214 1.4100

Trading range: 1.4480 - 1.4555
Trend: Upward
Buy at 1.4492 SL 1.4462 TP 1.4542

On Friday we made +23 pips profit on EUR/USD from the following signal:
7:39 GMT+1 Sell EUR/USD at 1.4443 SL 1.4469 TP 1.4393, exit sent at 8:27 GMT+1.
Total on Friday +96, as shown in details at http://www.zifx.com/performance.php.

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