Bullish above 1.2805 today and next resistance is now 1.2900

Tue, Nov 21 2006, 16:38 GMT
by Per-Erik Karlsson


Euro

Support/Resistance

Res 3       1.2939

Res 2       1.2901

Res 1       1.2853

Sup1       1.2790

Sup2       1.2751

Sup1       1.2683

Indicators/momentum

EMA'S    1 Hour    Bullish

                15 min    Bullish

                5 min    Bullish

Key resistance today; 1.2901

Key support today; 1.2790

Favoured strategy today:  Longs above 1.2805

Comment:

Bullish above 1.2805 today and next resistance is now 1.2900. However a break below 1.2750 support would indicate recent bullish move has come to en end and open for a test of 1.2650. So basically bullish above 1.2805, but to see stronger rally it has to overcome 1.2901 today.

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

Major events today

11:00 UK CBI

15:00 Fed's Warsh speaks

17:00 Fed's Lacker speaks

Rainer's Astrological Column

Momentum today might increase towards the evening and build a clear trend. Around midnight we have a strong impulse that might continue until Wednesday evening. Trend following strategies for today and tomorrow!