EUR/USD 1.3600 – 1 March 2010

EUR/USD Open 1.3643 High 1.3673 Low 1.3558 Close 1.3623
Euro/Dollar appreciated at the end of last week, as Dollar index decreased, and crude oil and gold registered growth. On the 3 hour chart the Euro is adjusting sharply upwards, but the depreciating trend remains strong for now. On Friday the Euro descended down to 1.3558, from where it started correcting up to 1.3673, closing the week at 1.3623. The nearest support is Friday’s bottom at 1.3558. Break bellow that level may lead to stronger bearish momentum towards 1.3455. Immediate resistance is Friday’s peak at 1.3673. Quotes are moving above the 50 and 20 EMA on the 1 hour chart, indicating bullish pressure. The value of RSI and MACD indicators are positive and calm, while CCI is neutral and quiet on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 1.3673 1.3777 1.3864
Technical support levels: 1.3558 1.3455 1.3363

Trading range: 1.3590 – 1.3650
Trend: Upward
Buy at 1.3600 SL 1.3570 TP 1.3640

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