EUR/USD 1.3234 - 28 December 2010

EUR/USD Open 1.3187 High 1.3255 Low 1.3070 Close 1.3163

On Monday the Euro/Dollar increased significantly with nearly 100 pips. The European currency appreciated from 1.3070 to 1.3163 yesterday, not matching the negative Interbank sentiment projection at around -10%, closing the day at 1.3163. This morning bulls pushed the pair further up to 1.3255. On the 1 hour chart trading is within wide range, while on the 3 hour chart the downward channel is on hold. Break above the nearest resistance and today's top at 1.3255 may trigger further recovery of the Euro. Going bellow yesterday's bottom and first support at 1.3070, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2967. Today's focus is on France GDP Q3 at 6:30 GMT. 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 calm, MACD is positive and quiet too, while CCI has crossed up the 100 line on the 1 hour chart, giving overall long signals.
Technical resistance levels: 1.3255 1.3262 1.3473
Technical support levels: 1.3070 1.2967 1.2852

Trading range: 1.3220 - 1.3285
Trend: Upward
Buy at 1.3234 SL 1.3204 TP 1.3274

Yesterday we made +12 pips profit on EUR/USD from the following signal:
6:45 GMT Sell EUR/USD at 1.3150 SL 1.3176 TP 1.3100, exit sent at 8:19 GMT.
Total yesterday +66, as shown in details at http://www.zifx.com/performance.php.

ZIFX.com