EUR/USD 1.4985 – 12 November 2009

EUR/USD Open 1.4981 High 1.5045 Low 1.4958 Close 1.4984
Euro/Dollar ascending momentum continued on Wednesday, as expected, reaching a peak at 1.5045, after which the currency couple lost its gains, closing the day at 1.4984. Signals are expected to remain rising in the short term with possible test of next objective 1.5170. But if we see a double peak technical formation, bearish correction could be expected. However, break above the above yesterday’s top and first resistance should trigger stronger bullish momentum towards 1.5170. Immediate support is yesterday’s bottom at 1.4960, followed by 1.4835. The CCI indicator is neutral on the 1 hour chart, suggesting calm movements.
Technical resistance levels: 1.5045 1.5170 1.5300
Technical support levels: 1.4960 1.4835 1.4700

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

Yesterday we made +50 pips profit on EUR/USD from the following signal:
5:35 GMT+1 Buy EUR/USD at 1.4980 SL 1.4954 TP 1.5030 TP reached at 8:07 GMT
Total yesterday +154, 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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