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21 June 2011
EUR / USD: Euro Stay Highest Price, Support 1.4302
In trading on Monday (6/20/2011), the opening price of EUR / USD at 1.4253. The movement of currency pairs is a natural increase in the range, began weakening to a basic level of 1.4188 and then rebounded to peak levels of 1.4324. The closing price at 1.4306, marked by a bullish candle.
In Asian trading today, the currency pair is likely to fall is limited to an area of 1.4302 - 1.4282 and furthest 1.4251/24 - 1.4196/88, 1.4171. If there is limited potential to increase the area 1.4360 - 1.4381/93 and 1.4408/34 furthest - 1.4454/94. Expansion of resistance in 1.4474,1.4494,1.4514,1.4547 / 54,1.4584,1.4605,1.4650 and extension support at 1.4171, 1.4153/43, 1.4124/18, 1.4087,1.4070,1.4045,1.4023,1.4002,1.3967,1.3901,1.3885,1.3858 , 1.3781,1.3659.
Furthermore, today's market players focus on European economic data (a combined 16 countries in a single currency euro) 'Germany ZEW Economic Sentiment' (16.00) and the United States 'Existing Home Sales' (21.00) which will be released today.
If the currency pair made it through resistance at the 1.4360 level will likely be potential targets towards the next resistance at 1.4381/93 levels and the furthest range 1.4408 - 1.4454. And if on the contrary made it through support at 1.4302 level will likely be potential targets towards the next support level at 1.4282 and the furthest range of 1.4251 - 1.4196/88.
RSI Indicator (14) line pointing downwards, indicates the direction of movement of potentially go down.
5 Resistance: 1.4454 (strong resistance / alert the possibility of reversal)
4 Resistance: 1.4434 (strong resistance)
Resistance 3: 1.4408 (strong resistance)
Resistance 2: 1.4381/93 (strong resistance)
Resistance 1: 1.4360
Support 1: 1.4302
Support 2: 1.4282 (strong support)
Support 3: 1.4251 (strong support)
Support 4: 1.4224 (strong support)
Support 5: 1.4196/88 (strong support / alert the possibility of reversal)
Range of Movement:Short: 1.4300 - 1.4365
Normal: 1.4245 - 1.4410
Width: 1.4185 - 1.4460
Market Trends:
Short-Term: Consolidation
Medium-Term: Bullish
Long-Term: Bullish
