EUR/USD 1.2285 - 27 May 2010
EUR/USD Open 1.2171 High 1.2340 Low 1.2153 Close 1.2181

After a partial correction, the Euro continued weakening on Wednesday, as expected. Euro/Dollar depreciated from 1.2340 to 1.2153 yesterday, in line with the Interbank sentiment projection, at around -10%, closing the day at 1.2181. On the 1 hour chart the downward trend is still on hold. Break above the nearest resistance and yesterday's top at 1.2340 may trigger further rising of the Euro. Going bellow yesterday's bottom and first support at 1.2153, however, should confirm continuation of the bearish trend, towards next objective downwards 1.2153. Today's focus is on Italy Business confidence, and Germany CPI and HICP 7:30 and 12:45 GMT respectively. Quotes have just crossed up the 20 and 50 EMA on the 1 hour chart, indicating short term upward impulse. The values of RSI and CCI indicators are positive and rising, while MACD is negative and inclining upwards on the 1 hour chart, giving overall light long signals.Technical resistance levels: 1.2340 1.2413 1.2522Technical support levels: 1.2153 1.2050 1.1961

Trading range: 1.2295 - 1.2235Trend: DownwardSell at 1.2285 SL 1.2315 TP 1.2245

Yesterday we made +44 pips profit on EUR/USD from the following signal:5:33 GMT+1 Sell EUR/USD at 1.2305 SL 1.2331 TP 1.2255 exit at 6:49 GMT+1.Total yesterday +152, as shown in details at