EUR/USD 1.4334 - 8 September 2009
EUR/USD Open 1.4335 High 1.4358 Low 1.4295 Close 1.4334

On Monday the Euro/Dollar made a moderate climb during the European session from 1.4295 to 1.4358, traded quitely during the US session because of the US Labor day, closing the day at 1.4334. On the 3 hour chart there is a still valid bearish channel, but the existing upward pressure led to testing the upper limit of this channel. Break out of the downward channel will lead to further upward impulse with objectives towards the 1.4465 resistance. Expectations are bullish in the short term, but with consolidation perspectives in the medium term. First support is seen at 1.4295, followed by 1.4200. The CCI indicator is neutral on the 1 hour chart, suggesting calm movements.

Technical resistance levels: 1.4360 1.4465 1.4600

Technical support levels: 1.4295 1.4200 1.4065

Trading range: 1.4320 - 1.4385

Trend: Upward

Buy at 1.4334 SL 1.4304 TP 1.4374

Yesterday we made +31 pips profit on EUR/USD from the following signal:

5:38 GMT+1 Buy EUR/USD at 1.4331 SL 1.4305 TP 1.4381 exited at 8:09 GMT

Total yesterday +139, as shown at www.zifx.com/performance.php

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