EUR/USD Technical Analysis 3 September 2009

EUR/USD 1.4281 - 3 September 2009

EUR/USD Open 1.4271 High 1.4292 Low 1.4192 Close 1.4264

Euro/Dollar renewed its downward movement Wednesday, making a bottom at 1.4192, than recovering with around 100 pips to the 1.4292 top, and closing the day at 1.4264. The 1.4295 resistance and yesterday's peak plays a key role in the continuation of the downward trend. Today's preferable scenario remains bearish. Indicators also support the downward trend. The CCI indicator is neutral on the 1 hour chart, suggesting calm trading with possible rise.
Technical resistance levels: 1.4375 1.4480 1.4600
Technical support levels: 1.4185 1.4060 1.3950

Trading range: 1.4295 - 1.4230
Trend: Downward
Sell at 1.4281 SL 1.4311 TP 1.4241

Yesterday we made 33 pips profit on EUR/USD from the following signal:
7:52 GMT 1 Sell EUR/USD at 1.4243 SL 1.4269 TP 1.4193 exited at 8:43 GMT
Total yesterday 193, as shown in details at our web site.