EUR/USD 1.4169 - 1 April 2011
EUR/USD Open 1.4157 High 1.4233 Low 1.4115 Close 1.4155
On Thursday the Euro/Dollar continued increasing with stronger impulse, climbing with nearly 120 pips. The European currency appreciated from 1.4115 to 1.4233 yesterday, matching the positive Interbank sentiment projection at above +8%, closing the day at 1.4155. This morning the pair is trading quietly, and within yesterday's range for now.
On the 1 hour chart the upward channel is trying to resume, while on the 3 hour chart the upward channel looks good. Break above the nearest resistance and yesterday's top at 1.4233 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.4115, however, would confirm continuation of the bearish trend, towards next objective downwards 1.4000. Today's focus is on Germany Retail sales, Italy, France, Germany and EU17 PMI, and EU17 Unemployment, at 6, 7:45, 7:50, 7:55, 8 and 9 GMT respectively. Quotes are moving just bellow the 20 and above the 50 EMA on the 1 hour chart, indicating short term slim bearish pressure and medium term bullish pressure. The value of the RSI indicator is negative and calm, MACD is positive and tranquil, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 1.4233 1.4350 1.4480
Technical support levels: 1.4115 1.4000 1.3886Read More... For the latest updates PRESS CTR + D or visit Stock Market news Today
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