EUR/USD 1.4770 – 13 October 2009

EUR/USD Open 1.4781 High 1.4812 Low 1.4680 Close 1.4771
Euro/Dollar made downward correction on Monday, reaching a bottom at 1.4680, from where it sharply rose up to the 1.4680 top, closing the day at 1.4771. We may see another correction before the currency couple starts climbing again towards next objective 1.4905. On the 1 hour chart quotes jumped from the 1.4513 bottom and indicators still support the upward potential. If the 1.4905 resistance is broken up, Euro may strengthen further towards the psychological 1.5000. Immediate support is yesterday’s bottom at 1.4680. Only a break below that level could violate the current ascending prospects. The CCI indicator is about to cross up the 100 line on the 1 hour chart, but bearish pressure still exists.
Technical resistance levels: 1.4815 1.4905 1.5000
Technical support levels: 1.4680 1.4565 1.4450

Trading range: 1.4760 – 1.4820
Trend: Upward
Buy at 1.4770 SL 1.4740 TP 1.4810

Yesterday we made +42 pips profit on EUR/USD from the following signal:
6:23 GMT+1 Sell EUR/USD at 1.4723 SL 1.4749 TP 1.4673 exited at 8:40 GMT
Total yesterday +172, as shown in details here.


Disclaimer: Please note that our technical analysis is not daily/evening forecast, neither a trading signal. Therefore the expectations shown here may differ from our forecasts and signals, to give readers different point of view.

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