EUR: Bullish momentum is intact above 1.3087

Tue, Nov 28 2006, 15:18 GMT
by Per-Erik Karlsson


Euro

Support/Resistance

Res 3       1.3462

Res 2       1.3254

Res 1       1.3158

Sup1       1.3113

Sup2       1.3087

Sup1       1.3000

Indicators/momentum

EMA'S    1 Hour    Bullish

                15 min    Bullish

                5 min    Bullish

Key resistance today; 1.3254

Key support today; 1.3087

Favoured strategy today:  Longs above 1.3087

Comment:

Bullish momentum is intact above 1.3087 and the next target is 1.3254 resistance. Only a daily close below 1.3087 would open for a correction towards 1.2948 support.

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

Major events today

13:30 US Durable Goods (Oct)

15:00 US Consumer Confidence (Nov)

15:00 US Existing Home Sales (Nov)

17:30 Fed's Bernanke speaks

17:30 Fed's Plosser speaks

Rainer's Astrological Column

A day of low tides, inner mud is stirred up, difficult to be able to do it on ones own energy. Every bigger deal should be postponed up to tomorrow. Choppy trading, no clear move in sight. A day for dealing with doubts, and for caring for ones own woundd. The situation might drastically change after midnight. Especially the 10 minutes before and after 3am might deliver a clear signal for a daily trend.