EUR/USD 1.4533 – 14 January 2010

EUR/USD Open 1.4533 High 1.4576 Low 1.4458 Close 1.4509
Euro/Dollar continued its ascending movement on Wednesday after the break up of the 1.4229 – 1.4484 range at the beginning of the week, reaching a peak at 1.4576, and closing the day at 1.4509. Earlier today in the Asian session Euro traded hesitantly, retreating downwards to 1.4473, indicating limited ascending momentum. Trading signals are expected to continue rising for the intraday trading and in the short term, as long as quotes remain above 1.4450, with objectives towards 1.4600. The nearest support is yesterday’s bottom at 1.4458. Break bellow this level may weaken the bulls’ strength and trigger further downward impulse down to 1.4372. The CCI indicator has crossed up the 100 line on the 1 hour chart, suggesting bullish pressure.
Technical resistance levels: 1.4576 1.4664 1.4758
Technical support levels: 1.4458 1.4372 1.4265

Trading range: 1.4520 – 1.4585
Trend: Upward
Buy at 1.4533 SL 1.4503 TP 1.4573


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