EUR/USD 1.4985 – 22 October 2009

EUR/USD Open 1.5017 High 1.5048 Low 1.4888 Close 1.5014
Euro/Dollar made significant ascending movement on Wednesday, breaking up the psychological 1.5000 level. Technically, this fact opens a way for stronger upward impulse toward next objective 1.5170 in the short term, but some adjustments in meanwhile should not come unexpected. Good support downwards is represented by yesterday’s bottom at 4890 level, and valid break bellow it may trigger further bearish momentum with targets towards 1.5080, followed by 1.5300. Our preferable scenario for now is ascending. The CCI indicator is about to cross up the 100 line on the 1 hour chart, indicating ascending pressure.
Technical resistance levels: 1.5050 1.5170 1.5300
Technical support levels: 1.4890 1.4765 1.4640

Trading range: 1.4975 – 1.5035
Trend: Upward
Buy at 1.4985 SL 1.4955 TP 1.5025

Yesterday we made +20 pips profit on EUR/USD from the following signal:
5:39 GMT+1 Sell EUR/USD at 1.4933 SL 1.4959 TP 1.4883 exited at 7:01 GMT
Total yesterday +141, 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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