EUR/USD 1.4168 - 21 March 2011

EUR/USD Open 1.4165 High 1.4200 Low 1.4042 Close 1.4176

On Friday the Euro/Dollar increased significantly with almost 150 pips. The European currency appreciated from 1.4042 to 1.4187 on Friday, matching the positive Interbank sentiment projection at almost +18%, closing the week at 1.4176. This morning the pair strengthened even further, reaching up to 1.4200. On the 1 hour chart the upward channel has resumed, while on the 3 hour chart the upward channel is intact. Break above the nearest resistance and today's top at 1.4200 may trigger further strengthening of the Euro. Going bellow Friday's bottom and first support at 1.4042, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3919. There are no major economic events for EU today. 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 calm, 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: 1.4200 1.4322 1.4434
Technical support levels: 1.4042 1.3919 1.3800

Trading range: 1.4155 - 1.4230
Trend: Upward
Buy at 1.4168 SL 1.4138 TP 1.4218

On Friday we made +14 pips profit on EUR/USD from the following signal:
5:32 GMT Buy EUR/USD at 1.4068 SL 1.4042 TP 1.4118, exit sent at 7:15 GMT.
Total on Friday +135, as shown in details at