Only a break below 1.2840 would relieve the bullish pressure
Thu, Nov 23 2006, 15:02 GMT
by Per-Erik Karlsson
Euro
Support/Resistance
Res 3 1.3000
Res 2 1.2980
Res 1 1.2956
Sup1 1.2901
Sup2 1.2840
Sup1 1.2800
Indicators/momentum
EMA'S 1 Hour Bullish
15 min Bullish
5 min Bullish
Key resistance today; 1.2980
Key support today; 1.2840
Favoured strategy today: Longs above 1.2901
Comment:
Broke above 1.29 resistance and the rally accelerated as expected and the next key point to watch is this year's high at 1.2980. A break above 1.2980 could send the Euro well above the 1.30 in the near term. Only a break below 1.2840 would relieve the bullish pressure.
In order to read more about: Cable, Swissy, Yen, EUR/JPY, EUR/GBP, CAD; download de PDF bellow.
Major events today
09:00 GER IFO (Nov)
14:00 Belgium Business Confidence
Us Markets closed due to Thanksgiving Day
Rainer's Astrological Column
The big move from the last two days starts to meet resistance. But simple strategies might still work in the moming, especially for the IFO numbers.
