EUR/USD 1.4220 - 4 April 2011

EUR/USD Open 1.4220 High 1.4269 Low 1.4060 Close 1.4228

On Friday the Euro/Dollar continued increasing, after a deep downward correction, climbing with 185 pips. The European currency appreciated from 1.4060 to 1.4246 on Friday, matching the positive Interbank sentiment projection at over +8%, closing the week at 1.4228. This morning the pair climbed further up, reaching 1.4269. On the 1 hour chart the upward channel is trying to resume, while on the 3 hour chart the upward channel is intact. Break above the nearest resistance and today's top at 1.4269 may trigger further strengthening of the Euro. Going bellow Friday's bottom and first support at 1.4269, however, would confirm continuation of the bearish trend, towards next objective downwards 1.4146. Today's focus is on EU17 at 9 GMT. Quotes are moving above the almost even 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is positive and tranquil, while CCI has crossed up the 100 line on the 1 hour chart, giving overall long signals.
Technical resistance levels: 1.4269 1.4380 1.4500
Technical support levels: 1.4060 1.4146 1.4029

Trading range: 1.4210 - 1.4270
Trend: Upward
Buy at 1.4220 SL 1.4190 TP 1.4260

On Friday we made +9 pips profit on EUR/USD from the following signal:
5:29 GMT+1 Buy EUR/USD at 1.4168 SL 1.4142 TP 1.4218, exit sent at 6:15 GMT+1.
Total on Friday +95, as shown in details at