WeeklyReport 26 - 30 / April / 2010
The breach of the bullish technical pattern for lat Friday has been affirmed, where its targets are around 95.15. Achieving the mentioned target will put the pair above pivotal resistance shown above, where this will form a bullish technical pattern that will help achieve a more expected bullish direction for this week. Technical targetsreside at 98.00 but require the daily closing to remain above 93.30 to prevail.
The trading range for today is among the key support at 92.65 and the key resistance at 97.90.
The short term trend is to the downside as far as 101.65 remains intact with targets at 82.60.
Previous ReportSupport94.0093.3092.6092.2591.60Resistance93.4093.7094.0094.7095.55RecommendationBased on the charts and explanations above our opinion is buying the pair with the breach of 94.80 target 96.65 and stop loss below 94.00, might be appropriate.