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Apr 18
EUR/USD Intraday - May 20, 2011: Testing To 1.4390
Friday, 20 May 2011 04:46

Yesterday: Open 1.4251 High 1.4326 Low 1.4206 Close 1.4310

Since the Asian session started trading yesterday the euro currency movements have further bullish ahead of the early European session lows to convey daily 1.4206. Entering the early European session, Euro convey the highest level at 1.4326 daily.

On the whole range of daily low hinh Eurp about 120 pips yesterday.

The focus of today's economic data for the EUR / USD is:
1. Germany EUR PPI m / m in at 13:00 pm
2. EUR Current Account in at 15:00 pm
3. EUR Consumer Confidence at 21:00 pm

20110520_eur

If the price continues to increase opportunities towards 1.4390 and 1.4453 resistance level.

Conversely if the decline continues and the trend line through the diagonal, then the price opened up opportunities leading to the 1.4213 level.

Prices shown on the graph H1 line MA05 and MA10 strong bullish conditions.

While the Stochastic indicator indicates there is still bearish.