EUR/USD 1.4138 - 19 August 2009

EUR/USD Open 1.4127 High 1.4169 Low 1.4073 Close 1.4132

On Tuesday Euro continued its recovering against the Dollar, from the bottom of 1.4067 to 1.4147, closing the day at 1.4134. On the 1 hour chart the 1.4140 resistance was broken upwards, indicating likely strengthening perspectives for the European currency. Signals are bullish in the short term with objectives toward 1.4300, but remain neutral in the medium term. The nearest support is Monday's bottom at 1.4050. Break below that level may lead to renewal of the downward trend. CCI is in the oversold area and upwards of 1 hour chart, suggesting further bullish perspectives.

Technical resistance levels: 1.4170 1.4300 1.4415

Technical support levels: 1.4050 1.3935 1.3820

Trading range: 1.4125 - 1.4190

Trend: Upward

Buy at 1.4138 SL 1.4108 TP 1.4178

Yesterday we made +38 pips profit on EUR/USD from the following signal:

5:40 GMT+1 Sell EUR/USD at 1.4097 SL 1.4123 TP 1.4047 exited at 8:20 GMT

Total yesterday +116, as shown at www.zifx.com/performance.php