EUR/USD Technical Analysis 20 April 2011
April 20, 2011 2:56 PM EST
EUR/USD 1.4388 - 20 April 2011
EUR/USD Open 1.4336 High 1.4413 Low 1.4204 Close 1.4333
On Tuesday the Euro/Dollar commenced a major recovery, climbing with around 150 pips. The European currency appreciated from 1.4204 to 1.4353 yesterday, matching the positive Interbank sentiment projection at over +12%, closing the day at 1.4333. This morning the pair extended its gains, rising up to 1.4413. On the 1 hour chart range trading is forming, while on the 3 hour chart the upward channel is making reneal attempts. Break above the nearest resistance and today's top at 1.4413 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.4204, however, would confirm continuation of the bearish trend, towards next objective downwards 1.4190. Today's focus is on Germany PPI at 6 GMT. Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and declining, MACD is positive and inclining upwards, while CCI has crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 1.4413 1.4540 1.4656
Technical support levels: 1.4204 1.4190 1.3971
Trading range: 1.4375 - 1.4440
Buy at 1.4388 SL 1.4358 TP 1.4428
On Friday we made +20 pips profit on EUR/USD from the following signal:
5:30 GMT+1 Sell EUR/USD at 1.4225 SL 1.4251 TP 1.4175, exit sent at 7:14 GMT+1.
Total yesterday +76, as shown in details at http://www.zifx.com/performance.php.
Most Popular Slideshows
- Gennady Golovkin Next Fight Options: Canelo Alvarez, Miguel Cotto Or Julio Cesar Chavez Jr.
- NFL MNF: Pittsburgh Steelers 30, Houston Texans 23 [PHOTOS]
- 2014 MLB World Series Game 1: San Francisco Giants 7, Kansas City Royals 1 [PHOTOS]
- 2014 MLB World Series - Game 2: Kansas City Royals 7, San Francisco Giants 2 [PHOTOS]
Join the Conversation
- No Mercy: ISIS, Father Stones to Death Daughter for Alleged Adultery
- Boy Stoned To Death For Alleged Rape, Victim Receives Dowry From Militants
- iOS 8 Jailbreak Release Date is Doomed as Team Evad3rs Opts Out, Pangu Hits Snag – Report
- Russia is Creating Underwater Combat Robots to Protect its Arctic Territories
- ASUS Releases A Teaser Indicating The Arrival of New Zenfone and ZenWatch On October 28
- Google Nexus 6 vs. iPhone 5S: 4 Important Things to Consider Before Switching to Android Lollipop
- Swedish Military Spots ‘Russian Submarine’ Off Stockholm Coast, An Alarming ‘Security Game Changer’