EUR/USD 1.3765 - 17 February 2010

EUR/USD Open 1.3764 High 1.3779 Low 1.3590 Close 1.3769

Euro/Dollar rose on Tuesday with nearly 200 pips, encouraged by the resolved situation in Greece for now, closing the day at 1.3769. The nearest support for the currency couple is yesterday's bottom at 1.3590. Going bellow that level could be considered as continuation of the bearish trend, towards next objective 1.3500. That scenario would be very possible if strikes in Greece renew as planned. The nearest and new resistance level is this morning's top at 1.3779. If we see convincing break above that level, stronger bullish impulse may be expected with targets towards 1.3889. Quotes are moving above the 50 and 20 EMA on the 1 hour chart, indicating ascending pressure. The values of RSI and CCI are positive and slightly leaning downwards, while MACD is neutral and dovish on the 1 hour chart, giving overall bullish signals with possible bearish adjustment.
Technical resistance levels: 1.3779 1.3889 1.4000
Technical support levels: 1.3590 1.3500 1.3422

Yesterday we made +11 pips profit on EUR/USD from the following signal:
5:35 GMT Sell EUR/USD at 1.3648 SL 1.3674 TP 1.3598 exit sent 6:24 GMT
Total yesterday +73, as shown in details at www.zifx.com/performance.php.

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