EUR/USD 1.2835 – 17 August 2010
EUR/USD Open 1.2812 High 1.2865 Low 1.2735 Close 1.2825On Monday the Euro/Dollar started to rise. The European currency appreciated from 1.2735 to 1.2865 yesterday, matching the positive Interbank sentiment projection, at nearly +2%, closing the day at 1.2825. This morning the bulls are trying to push further up. On the 1 hour chart new downward channel was broken upwards, while on the 3 hour chart the downward channel is on hold. Break above the nearest resistance and yesterday’s top at 1.2865 may trigger further recovery of the Euro. Going bellow yesterday’s bottom and first support at 1.2735, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2640. Today’s focus is on EU 16 Current account and Germany ZEW economic expectations index at 8 and 9 GMT respectively. Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and consolidating, MACD is neutral and quiet, while CCI has crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 1.2865 1.2979 1.3100
Technical support levels: 1.2735 1.2640 1.2512
Trading range: 1.2825 – 1.2885
Trend: Upward
Buy at 1.2835 SL 1.2805 TP 1.2875Yesterday we made +50 pips profit on EUR/USD from the following signal:
5:03 GMT+1 Buy EUR/USD at 1.2770 SL 1.2744 TP 1.2820 TP reached at 7:46 GMT+1.
Total yesterday +174, as shown in details at our web site.

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