EUR: Bearish below 1,3462 resistance today

Fri, May 25 2007, 10:50 GMT
by Per-Erik Karlsson


Euro

Support/Resistance

Res 3  1,3610

Res 2  1,3525

Res 1  1,3402

Sup 1  1,3403

Sup 2  1,3340

Sup 3  1,3255

Indicators/momentum

EMA'S   1Hour Bearish

               15 min Bearish

               5 min Bearish

Key Resistance Today: 1,3462

Key Support Today: 1,3340

Favoured Strategy Today: Bearish below 1,3462

Comment:

Bearish below 1,3462 resistance today and the next target on the downside remains 1,3340 support near term. It needs to make a daily close above 1,3477 to open for any stronger rally.

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

Major events today (GMT)

08:30 UK GDP (1QP)

14:00 US Existing Home Sales (Apr)

Rainer's Astrological column:

Logical thinking and potential of overview back after 9:30 am. Afterlunch, very good moment to start projects and o initiate processes. This will continue for approximately 24hrs.