EUR/USD 1.4428 - 14 June 2011

EUR/USD Open 1.4415 High 1.4442 Low 1.4282 Close 1.4410

On Monday the Euro/Dollar comenced recovering, increasing with 150 pips. The European currency appreciated from 1.4282 to 1.4431 yesterday, matching the positive Interbank sentiment projection at over +19%, closing the day at 1.4410. This morning the European currency strengthened even further, climbing up to 1.4442. On the 1 hour chart the upward channel is making renewal attempts, while on the 3 hour chart trading remains within wide range. Break above the nearest resistance and today's top at 1.4442 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.4282, however, would confirm continuation of the bearish trend, towards next important objective downwards 1.4170. There are no major economic events for EU today. Quotes are moving just above the even 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is neutral and quiet, while CCI has crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 1.4442 1.4550 1.4663
Technical support levels: 1.4282 1.4170 1.4054

Trading range: 1.4415 - 1.4480
Trend: Upward
Buy at 1.4428 SL 1.4398 TP 1.4468

Yesterday we made +41 pips profit on EUR/USD from the following signal:
7:53 GMT+1 Sell EUR/USD at 1.4365 SL 1.4391 TP 1.4315, exit sent at 8:12 GMT+1.
Total yesterday +73, as shown in details at http://www.zifx.com/performance.php.

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