EUR/USD 1.4460 - 11 April 2011

EUR/USD Open 1.4460 High 1.4492 Low 1.4289 Close 1.4463

On Friday the Euro/Dollar increased significantly with nearly 200 pips after ECB increased interest rares the previous day, as expected. The European currency appreciated from 1.4289 to 1.4492 on Friday, matching the positive Interbank sentiment projection at above +12%, closing the week at 1.4463. This morning the pair is trading quietly and at the top of Friday's range for now. On the 1 hour chart new upward channel has emerged again, while on the 3 hour chart the upward channel looks good. Break above the nearest resistance and Friday's top at 1.4492 may trigger further strengthening of the Euro. Going bellow Friday's bottom and first support at 1.4289, however, would confirm continuation of the bearish trend, towards next objective downwards 1.4216. Today's focus is on France and Italy Industrial production, at 6:45 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 tranquil, MACD is positive and calm too, while CCI has crossed up the 100 line on the 1 hour chart, giving overall long signals.
Technical resistance levels: 1.4492 1.4600 1.4716
Technical support levels: 1.4289 1.4177 1.4064

Trading range: 1.4450 - 1.4510
Trend: Upward
Buy at 1.4460 SL 1.4430 TP 1.4500

On Friday we made +28 pips profit on EUR/USD from the following signal:
5:30 GMT+1 Buy EUR/USD at 1.4393 SL 1.4367 TP 1.4443, exit sent at 8:45 GMT+1.
Total on Friday +113, as shown in details at