1,2799 resistance was taken out yesterday

Wed, Nov 8 2006, 11:37 GMT
by Per-Erik Karlsson


Euro

Support/Resistance

Res 3       1.2864

Res 2       1.2831

Res 1       1.2820

Sup1       1.2738

Sup2       1.2688

Sup1       1.2644

Indicators/momentum

EMA'S    1 Hour    Bullish

                15 min    Bullish

                5 min    Bullish

Key resistance today; 1,2831

Key support today; 1,2738

Favoured strategy today:  Longs above 1.2738

Comment:

1,2799 resistance was taken out yesterday and next target is 1.2831 resistance as long as 1.2738 support holds. Only a move below 1.2724 support would reverse the bullish momentum and target 1.2664 key support.

In order to read more about: Cable, Swissy, Yen, EUR/JPY, EUR/GBP, CAD; download de PDF bellow.

Major events today

11:00 ECB's Hurley speaks

14:10 Fed's Moscow speaks

Rainer's Astrological Column

The speed is high today and the most intelligent strategy for today might be staying away! Speediness of action will increase and be at the highest around 9:30pm. The confusion of what the market will do will be at the utmost. Slowing down and ability to see the bigger picture after 9.30pm. Good day for cleaning the office, preparing the next steps, think over projects.