EUR/USD 1.3605 - 10 March 2010

EUR/USD Open 1.3607 High 1.3698 Low 1.3541 Close 1.3599

After rising on Monday to 1.3698, Euro/Dollar traded with a slight decrease on Tuesday down to 1.3541, closing the day at 1.3599. Our expectations for the currency couple are neutral in the short and medium term, till we see break out of the 1.3461 - 1.3779 range, as seen on the 1 hour chart. The pair will need strong sentiment data to get it out of the current consolidation phase and point movement direction. Going bellow the 1.3541 support may trigger stronger bearish impulse towards next target 1.3468. First resistance is Monday's top at 1.3698. Today's focus is on Germany Trade balance and CPI at 7:00, French Industrial production at 7:45, and Italian GDP and Industrial production at 9:00 GMT. Quotes are moving bellow the 50 and above the 20 EMA on the 1 hour chart, indicating slight upward correctional pressure. The value of RSI, MACD and CCI indicators are all positive and dovish on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 1.3688 1.3770 1.3895
Technical support levels: 1.3541 1.3468 1.3370

On Friday we made +34 pips profit on EUR/USD from the following signal:
5:33 GMT Sell EUR/USD at 1.3611 SL 1.3637 TP 1.3561 exit sent 9:32 GMT
Total yesterday +162, as shown in details at www.zifx.com/performance.php.

/