EUR/USD 1.4330 - 24 August 2009

EUR/USD Open 1.4339 High 1.4366 Low 1.4211 Close 1.4323

On Friday Euro/Dollar climbed on Friday from the 1.4211 bottom to 1.4366, closing the week at 1.4323. On the 1 hour chart quotes are still moving around the top of the decreasing triangular formation. The European currency shows ability to remain above this level, indicating a potential increasing pressure, but significant bullish impulse is missing as the market seems to be consolidating. Immediate resistance is Friday's top 1.4365. A clear break above this level may trigger further bullish impulse towards 1.4470. First support is 1.4280 followed by 1.4175. The CCI indicator is neutral on the 1 hour chart, suggesting calm trading.

Technical resistance levels: 1.4365 1.4470 1.4600

Technical support levels: 1.4280 1.4175 1.4055

Trading range: 1.4320 - 1.4380

Trend: Upward

Buy at 1.4330 SL 1.4300 TP 1.4370

On Friday we made +23 pips profit on EUR/USD from the following signal:

5:38 GMT+1 Sell EUR/USD at 1.4226 SL 1.4252 TP 1.4176 exited at 7:59 GMT

Total on Friday +124, as shown at www.zifx.com/performance.php