EURUSD - 1.3503 @06:35

Trading strategy: long at 1.3530, stop at 1.3480 (0.5% risk), 1st objective at 1.3580, 2nd objective at at 1.3650

Good morning. The euro holds fairly well and continues the consolidation into the 1.34-1.35 range. Support into the 1.3430 zone held, although price spiked to as low as 1.3400 yesterday - signaling a false break on intra-day charts. Now that buyers are again in control and the euro is performing very well against others, such as CHF and JPY - a sustained break above 1.3500 in the coming sessions seems plausible. My yesterday plan to buy higher, following the market on a potential breakout, is still valid.

Support: 1.3430/50, 1.3360, 1.3300, 1.3230/50 and 1.3200
Resistance: 1.3540/50, 1.3570 and 1.3700
Market sentiment: long term - mixed, medium term - mixed, short term - bullish, intraday - slightly bearish

EURUSD 4hrs chart 1-21-2011
EURUSD hourly chart 1-21-2011