EUR/USD 1.4662 - 25 September 2009
On Thursday Euro/Dollar attempted to rise, reaching a peak at 1.4797, as expected, where further bullish movement was limited and the currency pair dropped to 1.4615, closing the day at 1.4662. Of the 3 hour chart after the break under 1.4766, the European currency is now heading towards 1.4670 within the formed bullish channel. The bearish momentum appeared to be normal correction for now. Break bellow 1.4650, however, might lead to stronger downward pressure towards the key support level at 1.4615. Only movement under the above support level and yesterday's bottom may be considered as a potential violation of the bullish scenario. The nearest resistance is yesterday's top at 1.4800, followed by 1.4915. Break above 1.4915 would confirm the bullish scenario continuation. The CCI indicator has crossed up the 100 line on the 1 hour chart, suggesting bullish pressure.
Technical resistance levels: 1.4800 1.4915 1.5040
Technical support levels: 1.4615 1.4500 1.4370
Buy at 1.4662 SL 1.4632 TP 1.4702
Yesterday we made +28 pips profit on EUR/USD from the following signal:
7:26 GMT+1 Buy EUR/USD at 1.4733 SL 1.4707 TP 1.4783 exited at 8:03 GMT
Total yesterday +115, as shown at www.zifx.com/performance.php