A daily close below 1.2948 would be a bearish reversal signal at this stage

Mon, Nov 27 2006, 15:37 GMT
by Per-Erik Karlsson


Euro

Support/Resistance

Res 3       1.3462

Res 2       1.3254

Res 1       1.3158

Sup1       1.3113

Sup2       1.3000

Sup1       1.2980

Indicators/momentum

EMA'S    1 Hour    Bullish

                15 min    Bullish

                5 min    Bullish

Key resistance today; 1.3254

Key support today; 1.3000

Favoured strategy today:  Longs above 1.3000

Comment:

Big rally higher the last 4 sessions and also gapping up on the opening in Asia and the sentiment is bullish above 1.30 today. Next key resistance is 1.3254. A daily close below 1.2948 would be a bearish reversal signal at this stage.

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

Major events today

No major events

Rainer's Astrological Column

If you have any business to do, do it today. Friendly day with no big surprises. Trend following models for today. Tomorrow there will be much more resistance and choppiness.