EUR: Bullish momentum is intact above 1.3132 today

Thu, Nov 30 2006, 16:42 GMT
by Per-Erik Karlsson


Euro

Support/Resistance

Res 3       1.3462

Res 2       1.3254

Res 1       1.3218

Sup1       1.3132

Sup2       1.3120

Sup1       1.3087

Indicators/momentum

EMA'S    1 Hour    Bullish

                15 min    Bullish

                5 min    Bullish

Key resistance today; 1.3254

Key support today; 1.3120

Favoured strategy today:  Longs above 1.3132

Comment:

Bullish momentum is intact above 1.3132 today 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

10:00 EMU Business Climate Indicator (Nov)

13:30 US Personal Spending (Oct)

13:30 US PCE Core (Oct)

13:30 CAN GDP Annualised (Q3)

15:00 US Chicago PMI (Oct)

Rainer's Astrological Column

Very positive day with creative potential. Today material profit can increase and at same time social consciousness does not suffer, so all in all a healthy day, getting even better after 13:11, just before the CAD numbers. That might be a good moment for a successful short-term strategy without bad surprises.