EUR/USD 1.3630 – 15 April 2010

EUR/USD Open 1.3654 High 1.3676 Low 1.3555 Close 1.3650
The Euro traded hesitantly on Tuesday. Euro/Dollar was moving within the 1.3555 – 1.3676 range yesterday, with up trend trying to resume, in line with the Interbank sentiment projection, at nearly 17%, closing the day at 1.3650. On the 1 hour chart new upward channel is also trying to continue. Break above the nearest resistance and this yesterday’s peak at 1.3676 may lead to further recovery of the Euro. Going bellow Tuesday’s bottom and first support at 1.3555, however, should confirm continuation of the bearish trend, towards next target 1.3461. Today’s focus is on EU 16 Trade balance at 9 GMT. Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slight bullish pressure. The value of the RSI indicator is positive and declining, MACD is positive and calm, while CCI is neutral and quiet on the 1 hour chart, giving overall weak bullish signals.

Technical resistance levels: 1.3676 1.3772 1.3856
Technical support levels: 1.3555 1.3461 1.3344

Trading range: 1.3620 – 1.3680
Trend: Upward
Buy at 1.3630 SL 1.3600 TP 1.3670

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