EUR/USD 1.4169 - 1 April 2011

EUR/USD Open 1.4157 High 1.4233 Low 1.4115 Close 1.4155

On Thursday the Euro/Dollar continued increasing with stronger impulse, climbing with nearly 120 pips. The European currency appreciated from 1.4115 to 1.4233 yesterday, matching the positive Interbank sentiment projection at above +8%, closing the day at 1.4155. This morning the pair is trading quietly, and within yesterday's range for now. On the 1 hour chart the upward channel is trying to resume, while on the 3 hour chart the upward channel looks good. Break above the nearest resistance and yesterday's top at 1.4233 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.4115, however, would confirm continuation of the bearish trend, towards next objective downwards 1.4000. Today's focus is on Germany Retail sales, Italy, France, Germany and EU17 PMI, and EU17 Unemployment, at 6, 7:45, 7:50, 7:55, 8 and 9 GMT respectively. Quotes are moving just bellow the 20 and above the 50 EMA on the 1 hour chart, indicating short term slim bearish pressure and medium term bullish pressure. The value of the RSI indicator is negative and calm, MACD is positive and tranquil, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 1.4233 1.4350 1.4480
Technical support levels: 1.4115 1.4000 1.3886

Trading range: 1.4155 - 1.4230
Trend: Upward
Buy at 1.4169 SL 1.4139 TP 1.4219

Yesterday we made +47 pips profit on EUR/USD from the following signal:
5:29 GMT+1 Buy EUR/USD at 1.4141 SL 1.4115 TP 1.4191, exit sent at 9:10 GMT+1.
Total yesterday +133, as shown in details at http://www.zifx.com/performance.php.

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