EUR/USD 1.3649 – 14 April 2010

EUR/USD Open 1.3614 High 1.3666 Low 1.3555 Close 1.3612
The Euro traded hesitantly on Tuesday. Euro/Dollar was moving within the 1.3555 – 1.3621 range yesterday, and this morning appreciation resumed, in line with the Interbank sentiment projection, at nearly 15%, closing the day at 1.3612. On the 1 hour chart new upward channel is trying to continue. Break above the nearest resistance and this morning’s peak at 1.3666 may lead to further recovery of the Euro. Going bellow yesterday’s bottom and first support at 1.3555, however, should confirm continuation of the bearish trend, towards next target 1.3461. Today’s focus is on EU 16 Industrial production at 9 GMT. Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI and MACD indicators are positive and rising, while CCI is positive and declining on the 1 hour chart, giving overall long signals.

Technical resistance levels: 1.3666 1.3772 1.3856
Technical support levels: 1.3555 1.3461 1.3344

Trading range: 1.3635 – 1.3700
Trend: Upward
Buy at 1.3649 SL 1.3619 TP 1.3689

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