EUR/USD 1.4684 - 27 April 2011

EUR/USD Open 1.4685 High 1.4714 Low 1.4492 Close 1.4641

On Tuesday the Euro/Dollar resumed increasing significantly with 220 pips. The European currency appreciated from 1.4492 to 1.4714 yesterday, matching the positive Interbank sentiment projection at nearly +11%, closing the day at 1.4641. This morning the pair is trading quietly, and at the upper side of yesterday's range for now. On the 1 hour chart the new upward channel has renewed, while on the 3 hour chart the upward channel is intact. Break above the nearest resistance and yesterday's top at 1.4714 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.4492, however, would confirm continuation of the bearish trend, towards next objective downwards 1.4377. Today's focus is on France Consumer confidence, EU17 Industrial orders, Germany CPI and HICP, and France Unemployment, at 7:45, 10, 12:15 and 16 GMT respectively. 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 quiet too, while CCI has crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 1.4714 1.4826 1.4942
Technical support levels: 1.4492 1.4377 1.4260

Trading range: 1.4670 - 1.4735
Trend: Upward
Buy at 1.4684 SL 1.4654 TP 1.4724

Yesterday we made +50 pips profit on EUR/USD from the following signal:
5:30 GMT+1 Buy EUR/USD at 1.4523 SL 1.4497 TP 1.4573, TP reached at 7:53 GMT+1.
Total yesterday +165, as shown in details at http://www.zifx.com/performance.php.

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