EUR/USD 1.4154 - 26 May 2011

EUR/USD Open 1.4081 High 1.4173 Low 1.4012 Close 1.4084

On Wednesday the Euro/Dollar traded neutrally within 105 pip range. The European currency appreciated from 1.4012 to 1.4118 yesterday, matching the neutral Interbank sentiment projection at nearly -1%, closing the day at 1.4084. This morning the pair broke up yesterday's range, climbing up to 1.4173. On the 1 hour chart quotes are testing the upper limit of the downward channel, while on the 3 hour chart quotes trading within the wide range remains for now. Break above the nearest resistance and today's top at 1.4173 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.4012, however, would confirm continuation of the bearish trend, towards next important objective downwards 1.3900. Today's focus is on France Consumer confidence at 6:45 GMT. Quotes are moving above the almost even 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 quiet too, while CCI has crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 1.4173 1.4280 1.4400
Technical support levels: 1.4012 1.3900 1.3783

Trading range: 1.4140 - 1.4215
Trend: Upward
Buy at 1.4154 SL 1.4124 TP 1.4204

Yesterday we made +28 pips profit on EUR/USD from the following signal:
5:24 GMT+1 Sell EUR/USD at 1.4042 SL 1.4068 TP 1.3992, exit sent at 7:15 GMT+1.
Total yesterday +109, as shown in details at http://www.zifx.com/performance.php.

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