EUR/USD 1.4550 – 14 September 2009
EUR/USD Open 1.4565 High 1.4621 Low 1.4521 Close 1.4581
Euro/Dollar traded hesitantly on Friday, entering into consolidation phase after the strong increasing movements in the previous days, closing the week at 1.4581. On the 1 hour chart the bullish channel is still valid, as quotes broke up the formed ascending triangle. If the technical resistance at 1.4620 is penetrated upwards, the ascending trend scenario is expected to continue. Immediate support is this morning’s bottom 1.4520. However, the CCI indicator is in the overbought zone and downwards on the 1 hour chart, so be careful for potential downward correction with targets towards even the next 1.4400 support.
Technical resistance levels: 1.4620 1.4730 1.4850
Technical support levels: 1.4520 1.4400 1.4275
Trading range: 1.4560 – 1.4500
Trend: Downward
Sell at 1.4550 SL 1.4580 TP 1.4510
On Friday we made +22 pips profit on EUR/USD from the following signal:
5:36 GMT+1 Buy EUR/USD at 1.4606 SL 1.4580 TP 1.4656 exited at 7:00 GMT
Total on Friday +138, 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. The analysis are updated around 6:15, 9:15 and 11:15 GMT+1, for the EUR/USD, GBP/USD and USD/JPY respectively.
Written by iFOREX.bg
