EUR/USD 1.4617 - 15 September 2009

EUR/USD Open 1.4629 High 1.4645 Low 1.4525 Close 1.4617

Euro/Dollar traded hesitantly on Monday, dropping down to the 1.4525 bottom, that rising to a new 9 month high 1.4645, closing the day at 1.4617. On the 1 hour chart the currency couple still trades within a bullish channel, but quotes dropped lower from the upper line of the channel occasionally. The European currency could be making a potential correctional phases, and possibly test again the 1.4525 support. Break under that level lead to further downward adjustment towards the lower limit of the bullish channel. The nearest resistance is Friday's top at 1.4633. Break above this level may trigger stronger increasing momentum towards 1.4400. The CCI indicator has crossed up the 100 line on the 1 hour chart, suggesting a potential bullish pressure.

Technical resistance levels: 1.4645 1.4770 1.4900

Technical support levels: 1.4525 1.4400 1.4275

Trading range: 1.4605 - 1.4670

Trend: Upward

Buy at 1.4617 SL 1.4587 TP 1.4657

Yesterday we made +36 pips profit on EUR/USD from the following signal:

5:40 GMT+1 Sell EUR/USD at 1.4551 SL 1.4577 TP 1.4501 exited at 6:57 GMT

Total yesterday +148, as shown at www.zifx.com/performance.php

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