EUR/USD 1.4521 - 26 April 2011

EUR/USD Open 1.4576 High 1.4627 Low 1.4492 Close 1.4578

On Monday the Euro/Dollar traded quietly and within 100 pip range. The European currency appreciated from 1.4524 to 1.4627 yesterday, matching the positive Interbank sentiment projection at nearly +17%, closing the day at 1.4578. This morning the pair commenced weakening, dropping down to 1.4492. On the 1 hour chart the new upward channel is on hold, while on the 3 hour chart the upward channel looks good. Break above the nearest resistance and yesterday's top at 1.4582 may trigger further strengthening of the Euro. Going bellow today's bottom and first support at 1.4492, however, would confirm continuation of the bearish trend, towards next objective downwards 1.4377. There are no major economic events for EU today. Quotes are moving just bellow the even the 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and inclining upwards, MACD is neutral and quiet, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.4627 1.4740 1.4855
Technical support levels: 1.4492 1.4377 1.4260

Trading range: 1.4510 - 1.4575
Trend: Upward
Buy at 1.4521 SL 1.4491 TP 1.4561

Last Thursday we made +50 pips profit on EUR/USD from the following signal:
5:28 GMT+1 Buy GBP/USD at 1.6436 SL 1.6410 TP 1.6496, TP reached at 6:47 GMT+1.
Total last Thursday +195, as shown in details at http://www.zifx.com/performance.php.

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