EUR/USD Technical Analysis 22 March 2011

By @ibtimes on

EUR/USD 1.4225 - 22 March 2011

EUR/USD Open 1.4215 High 1.4240 Low 1.4137 Close 1.4213 On Monday the Euro/Dollar increased insignificantly with just over 100 pips. The European currency appreciated from 1.4137 to 1.4240 yesterday, matching the positive Interbank sentiment projection at almost +19%, closing the day at 1.4213. This morning the pair is trading at the upper end of yesterday's range quietly for now. 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 yesterday's top at 1.4240 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.4137, however, would confirm continuation of the bearish trend, towards next objective downwards 1.4026. There are no major economic events for EU today. Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and tranquil too, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall long signals.
Technical resistance levels: 1.4240 1.4354 1.4470
Technical support levels: 1.4137 1.4026 1.3919
Trading range: 1.4215 - 1.4285
Trend: Upward
Buy at 1.4225 SL 1.4195 TP 1.4275

Yesterday we made +27 pips profit on EUR/USD from the following signal:
6:30 GMT Buy EUR/USD at 1.4159 SL 1.4133 TP 1.4209, exit sent at 7:07 GMT.
Total yesterday +102, as shown in details at http://www.zifx.com/performance.php.

ZIFX.com

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