Bullish above 1.2831 today and next resistance is now 1.2900

Wed, Nov 22 2006, 14:57 GMT
by Per-Erik Karlsson


Euro

Support/Resistance

Res 3       1.2939

Res 2       1.2901

Res 1       1.2853

Sup1       1.2790

Sup2       1.2790

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 1.2831

Comment:

Bullish above 1.2831 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 1.2850, but to see any 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

09:30 UK BoE Minutes

12:00 CAN CPI

13:30 US Weekly Jobless Claims

15:00 US U. of Michigan Confidence

Rainer's Astrological Column

The push through came after midnight. We expect this move to continue untill at least tonight. It's unlikely that trend reverses, as the sun system two biggest objects stand in conjunction and create a nice push.