EUR/USD 1.2993 - 27 July 2010

EUR/USD Open 1.2993 High 1.3017 Low 1.2874 Close 1.2995

On Monday the Euro/Dollar continued rising with over 100 pips. The European currency appreciated from 1.2874 to 1.3004 yesterday, not exactly matching the neutral Interbank sentiment projection, at around +2%, closing the day at 1.2995. This morning the pair extended its gains up to 1.3017, with unconvincing making further bullish efforts. On the 1 hour chart the upwards channel is still trying to resume, while on the 3 hour the upward channel looks good. Break above the nearest resistance and today's top at 1.3017 may trigger further recovery of the Euro. Going bellow yesterday's bottom and first support at 1.2874, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2755. Today's focus is Germany Import prices, EU 16 M3 money supply, and France Unemployment at 6, 8 and 16 GMT respectively. Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and consolidating, MACD is positive and quiet, while CCI has crossed up the 100 line on the 1 hour chart, giving overall long signals.Technical resistance levels: 1.2962 1.3050 1.3144Technical support levels: 1.2874 1.2755 1.2660

Trading range: 1.2980 - 1.3045Trend: UpwardBuy at 1.2993 SL 1.2963 TP 1.3033

Yesterday we made +50 pips profit on EUR/USD from the following signal:6:52 GMT+1 Buy EUR/USD at 1.2904 SL 1.2878 TP 1.2954 TP reached 7:46 GMT+1.Total yesterday +158, as shown in details at