EUR/USD Technical Analysis 28 April 2011

By @ibtimes on

EUR/USD 1.4862 - 28 April 2011

EUR/USD Open 1.4776 High 1.4882 Low 1.4627 Close 1.4784

On Wednesday the Euro/Dollar continued increasing significantly with nearly 160 pips. The European currency appreciated from 1.4627 to 1.4795 yesterday, matching the positive Interbank sentiment projection at over +14%, closing the day at 1.4784. This morning the pair rose further up, reaching 1.4882. On the 1 hour chart the new upward channel has resumed, while on the 3 hour chart the upward channel looks good. Break above the nearest resistance and today's top at 1.4882 may trigger further strengthening of the Euro towards the psychological 1.5. Going bellow yesterday's bottom and first support at 1.4627, however, would confirm continuation of the bearish trend, towards next objective downwards 1.4515. Today's focus is on France Consumer spending and Germany Unemployment, at 6:45 and 7:55 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 climbing, MACD is positive and inclining upwards too, while CCI has crossed up the 100 line on the 1 hour chart, giving overall long signals.
Technical resistance levels: 1.4882 1.5000 1.5114
Technical support levels: 1.4627 1.4515 1.4400

Trading range: 1.4850 - 1.4925
Trend: Upward
Buy at 1.4862 SL 1.4832 TP 1.4912

Yesterday we made +14 pips profit on EUR/USD from the following signal:
5:30 GMT+1 Buy EUR/USD at 1.4683 SL 1.4657 TP 1.4733, exit sent at 6:19 GMT+1.
Total yesterday +71, as shown in details at http://www.zifx.com/performance.php.

ZIFX.com

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