EUR/USD 1.4425 - 1 June 2011

EUR/USD Open 1.4426 High 1.4437 Low 1.4324 Close 1.4395

On Tuesday the Euro/Dollar continued increasing with 110 pips. The European currency appreciated from 1.4324 to 1.4437 yesterday, matching the positive Interbank sentiment projection at above +16%, closing the day at 1.4395. This morning the pair is trading quietly, and within yesterday's range for now. On the 1 hour chart quotes broke up of the range trading, while on the 3 hour chart trading is in the middle of a wide range. Break above the nearest resistance and yesterday's top at 1.4437 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.4324, however, would confirm continuation of the bearish trend, towards next important objective downwards 1.4200. Today's focus is on Italy, France, Germany and EU17, PMI at 7:45, 7:50, 7:55 and 8 GMT respectively. Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and rising, MACD is positive and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving overall long signals.
Technical resistance levels: 1.4437 1.4550 1.4668
Technical support levels: 1.4324 1.4200 1.4077

Trading range: 1.4415 - 1.4485
Trend: Upward
Buy at 1.4425 SL 1.4395 TP 1.4475

Yesterday we made +34 pips profit on EUR/USD from the following signal:
5:31 GMT+1 Buy EUR/USD at 1.4380 SL 1.4354 TP 1.4430, exit sent at 8:35 GMT+1.
Total yesterday +175, as shown in details at http://www.zifx.com/performance.php.

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