EUR/USD 1.3477 – 19 April 2010

EUR/USD Open 1.3488 High 1.3666 Low 1.3555 Close 1.3496
The Euro continued depreciating on Friday. Euro/Dollar decreased from 1.3573 to 1.3485 on Friday, in line with the Interbank sentiment projection, at nearly -17%, closing the week at 1.3496. On the 1 hour chart new downward channel has been formed. Break above the nearest resistance and Friday’s top at 1.3573 may lead to further recovery of the Euro. Going bellow today’s bottom and first support at 1.3446, however, should confirm continuation of the bearish trend, towards next target 1.3358. There are no major economic events for EU today. Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The values of the RSI and CCI indicators are neutral and calm, while MACD is negative and quiet on the 1 hour chart, giving overall weak bearish signals.

Technical resistance levels: 1.3573 1.3666 1.3772
Technical support levels: 1.3446 1.3358 1.3265

Trading range: 1.3490 – 1.3425
Trend: Downward
Sell at 1.3477 SL 1.3507 TP 1.3437

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