EUR/USD 1.4267 - 30 May 2011

EUR/USD Open 1.4129 High 1.4337 Low 1.4124 Close 1.4288

On Friday the Euro/Dollar continued rising with 200 pips. The European currency appreciated from 1.4124 to 1.4328 on Friday, matching the positive Interbank sentiment projection at almost +20%, closing the week at 1.4288. This morning the pair ascended even further, climbing up to 1.4337. On the 1 hour chart quotes are testing the upper limit of the downward channel, while on the 3 hour chart trading remains within the wide range for now. Break above the nearest resistance and today's top at 1.4337 may trigger further strengthening of the Euro. Going bellow Friday's bottom and first support at 1.4124, however, would confirm continuation of the bearish trend, towards next important objective downwards 1.4000. There are no major economic events for EU today. Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is neutral and declining, MACD is positive and quiet, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall neutral to light long signals.
Technical resistance levels: 1.4337 1.4400 1.4532
Technical support levels: 1.4124 1.4000 1.3887

Trading range: 1.4255 - 1.4330
Trend: Upward
Buy at 1.4267 SL 1.4237 TP 1.4317

On Friday we made +30 pips profit on EUR/USD from the following signal:
5:31 GMT+1 Buy EUR/USD at 1.4246 SL 1.4220 TP 1.4296, exit sent at 8:06 GMT+1.
Total on Friday +85, as shown in details at http://www.zifx.com/performance.php.

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