EUR/USD 1.4060 - 18 March 2011

EUR/USD Open 1.4026 High 1.4088 Low 1.3866 Close 1.4016

On Thursday the Euro/Dollar increased significantly with
almost 200 pips. The European currency appreciated from 1.3866 to 1.4052
yesterday, matching the positive Interbank sentiment projection at almost +19%,
closing the day at 1.4016. This morning the pair strengthened even further,
reaching up to 1.4088. On the 1 hour chart the upward channel has resumed, while
on the 3 hour chart the upward channel looks fine. Break above the nearest
resistance and today's top at 1.4088 may trigger further strengthening of the
Euro. Going bellow today's bottom and first support at 1.3866, however, would
confirm continuation of the bearish trend, towards next objective downwards
1.3750. Today's focus is on Germany PPI, EU16 Current account and Trade balance,
at 7, 9 and 10 GMT respectively. Quotes are moving above the 20 and 50 EMA on
the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is
positive and declining, MACD is positive and tranquil, while CCI has crossed up
the 100 line on the 1 hour chart, giving overall light long
signals.
Technical resistance levels: 1.4088 1.4200 1.4322
Technical
support levels: 1.3866 1.3750 1.3633

Trading range: 1.4050 - 1.4120
Trend: Upward
Buy at 1.4060 SL 1.4030 TP 1.4110

Yesterday we made +14 pips profit on EUR/USD from the following signal:
5:32 GMT Sell EUR/USD at 1.3929 SL 1.3955 TP 1.3879, exit sent at 6:49 GMT.
Total yesterday +135, as shown in details at http://www.zifx.com/performance.php.

ZIFX.com