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Technical Analysis: EUR/USD

Posted by Chris Advincula on Apr 30, 2013 4:05:00 AM

April 30 Tuesday 8:05 GMT

EURO-DOLLAR TECHNICALS: Daily Studies Mixed, 38.2% Key Resistance at 1.3115


RES 4: 1.3219/27 100-week MA, 50.0% of 1.3711 to 1.2743
RES 3: 1.3192/3200/02 Daily Bollinger top, Apr 17 high, Apr 16 high
RES 2: 1.3150/59 Former 38.2% 1.4940-1.2043, 100-DMA
RES 1: 1.3115/16/17 38.2% of 1.3711-1.2743, Apr 29, 22 highs


LATEST PRICE: 1.3082


SUP 1: 1.3045/50 55-DMA, 5-DMA
SUP 2: 1.3015/30 Apr 4 support line, 21-DMA
SUP 3: 1.2974/89 23.6% of 1.3711 to 1.2746, Low Apr 25
SUP 4: 1.2955/59 Low Apr 24, 200-DMA


COMMENTARY: Euro-dollar rises through resistance to test the 38.2% of
1.3711-1.2743, now initial resistance at 1.3115. Daily studies a little mixed, slow
stochastic does show a buy-signal but 10-day momentum dips lower, if euro
fails to break above initial resistance we may see bears test support, initial support at
1.3045/50, the 55 and 5-DMAs, followed by the Apr 4 support line and 21-DMA at
1.3015/30. However, weekly studies rise and further resistance at 1.3159, the 100-DMA.

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