EUR/USD 1.3469 - 19 January 2011

EUR/USD Open 1.3376 High 1.3475 Low 1.3253 Close 1.3384

On Tuesday the Euro/Dollar resumed increasing significantly with over 210 pips. The European currency appreciated from 1.3253 to 1.3467 yesterday, matching the positive Interbank sentiment projection at over +26%, closing the day at 1.3384. This morning bulls pushed the pair even further up to 1.3475. On the 1 hour chart the upward channel has renewed, while on the 3 hour chart trading is within wide range. Break above the nearest resistance and today's top at 1.3475 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3253, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3140. Today's focus is on EU16 Current account at 9 GMT. 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 climbing, MACD is positive and quiet, while CCI has crossed up the 100 line on the 1 hour chart, giving overall long signals.
Technical resistance levels: 1.3475 1.3583 1.3700
Technical support levels: 1.3253 1.3140 1.3030

Trading range: 1.3455 - 1.3520
Trend: Upward
Buy at 1.3469 SL 1.3439 TP 1.3509

Yesterday we made +50 pips profit on EUR/USD from the following signal:
5:30 GMT Buy EUR/USD at 1.3312 SL 1.3286 TP 1.3362, TP reached at 7:23 GMT.
Total yesterday +176, as shown in details at