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Monday 03.26.2007

EURUSD


The Euro slipped below the 1.33 mark on Friday, setting the daily lows in the 1.3260 area. Key support is formed by 1.3255 backed by 1.3210 and 1.3170. Resistance starts at 1.3300 and it is followed by 1.3340 and 1.3375. Daily sentiment lost strength but it is still bullish while the hourly is bullish too at the time of this writing. If 1.3255 will hold, a recovery aimed towards the 1.3300-1.3340 area is highly possible. Current exchange rate is 1.3278 @ 07:25 GMT


Trading strategies:


Stand aside or long in the 1.3260 area, stop at 1.3230, objectives at and above 1.3300.

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