EUR/USD 1.4716 - 18 September 2009

EUR/USD Open 1.4739 High 1.4757 Low 1.4688 Close 1.4741

On Thursday Euro/Dollar was made a moderate increasing movement, reaching a peak at 1.4757, closing the day at 1.4741. Of the 1 hour chart the currency pair is still within the ascending triangle formation. Signals are expected to be rising towards 1.4800. However, the MACD divergence on 3 hour chart shows that there may still be a downward turning indication. Further bullish outlook may be expected if the nearest 1.4760 resistance is penetrated convincingly upwards. In case of break down of the immediate support and yesterday's bottom 1.4690, this may give us bearish signals with targets towards 1.4575, followed by 1.4450. The CCI indicator has crossed up the 100 line on the 1 hour chart, suggesting a potential bullish pressure.

Technical resistance levels: 1.4760 1.4870 1.5000

Technical support levels: 1.4690 1.4575 1.4450

Trading range: 1.4705 - 1.4770

Trend: Upward

Buy at 1.4716 SL 1.4686 TP 1.4756

Yesterday we made +42 pips profit on EUR/USD from the following signal:

5:35 GMT+1 Buy EUR/USD at 1.4726 SL 1.4700 TP 1.4776 exited at 7:33 GMT

Total yesterday +154, as shown at www.zifx.com/performance.php

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