EUR/USD 1.2282 - 3 June 2010

EUR/USD Open 1.2237 High 1.2328 Low 1.2181 Close 1.2248

On Wednesday Euro/Dollar traded hesitantly at first and with a slight increase later in the day. Euro/Dollar appreciated from 1.2181 to 1.2265 yesterday, in converse with the Interbank sentiment projection, at around -14%, closing the day at 1.2248. On the 1 hour chart the Euro is making breaking out of the consolidation phase efforts, but unsuccessful so far. Break above the nearest resistance and Tuesday's top at 1.2328 may trigger further recovery of the Euro. Going bellow this yesterday's bottom and first support at 1.2181, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2117. Today's focus is on Italy, France, Germany and EU 16 PMI services, and EU 16 Retail sales at 7:45, 7:50, 7:55, 8 and 9 GMT respectively. Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and dovish, MACD is positive and climbing, while CCI has crossed up the 100 line and quiet on the 1 hour chart, giving overall long signals.Technical resistance levels: 1. 2328 1.2434 1.2500Technical support levels: 1.2181 1.2117 1.2011

Trading range: 1.2270 - 1.2335Trend: UpwardBuy at 1.2282 SL 1.2252 TP 1.2322

Yesterday we made +37 pips profit on EUR/USD from the following signal:6:45 GMT+1 Sell EUR/USD at 1.2226 SL 1.2252 TP 1.2176 exit at 7:32 GMT+1.Total yesterday +93, as shown in details at