EUR USD Trading Idea April 03, 2012


Update 1 (02:30): As with the last week, the price has been moving in between 1.3380 and 1.3270. We need to break through and close above or below these price points for any meaningful trend to materialize. In the meantime, make hay while the sun shines. It is a fine opportunity to increase your profit levels by buying low and selling high within this predictable range.

Level Technical Significance
1.3487 2012 High Feb 24
1.3486 Daily Highs Feb 24 & 29
1.3404 21-Day Upper Bollinger
1.3385 Daily High Mar 27
1.3346 02:30 GMT TUE 03 APR
1.3251 Daily Low Mar 29
1.3214 21-Day MA
1.3193 Daily Low Mar 26
1.3161 100-Day MA

Update 2 (14:40 GMT): The choppy price action continues. 1.3430 is the immediate resistance level and 1.3180 is the immediate support value. Expect the price to bounce in between these two levels for the very long time in the coming days.

Level Technical Significance
1.3487 2012 High Feb 24
1.3486 Daily Highs Feb 24 & 29
1.3414 21-Day Upper Bollinger
1.3385 Daily High Mar 27
1.3317 14:40 GMT TUE 03 APR
1.3251 Daily Low Mar 29
1.3219 21-Day MA
1.3193 Daily Low Mar 26
1.3161 100-Day MA
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