EUR/USD 1.4923 – 21 October 2009

EUR/USD Open 1.4932 High 1.4993 Low 1.4887 Close 1.4941
On Monday Euro/Dollar corrected down to the 1.4887 level, where the correctional movement was limited, closing the day at 1.4941. Expectation are bullish in the medium term, but we need to see convincing break above yesterday’s top and first resistance 1.4995 to confirm that. Market is volatile and seems to create false break outs recently. Yesterday’s bottom 1.4885 is good key and the nearest support. Break below that level might shake the ascending scenario and lead quotes further down towards 1.4765. The CCI indicator is positive on the 1 hour chart, indicating ascending pressure.
Technical resistance levels: 1.4995 1.5110 1.5240
Technical support levels: 1.4885 1.4765 1.4640

Trading range: 1.4910 – 1.4975
Trend: Upward
Buy at 1.4923 SL 1.4893 TP 1.4963

Yesterday we made +20 pips profit on EUR/USD from the following signal:
5:37 GMT+1 Buy EUR/USD at 1.4968 SL 1.4942 TP 1.5018 exited at 7:59 GMT
Total yesterday +114, 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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