By: iForex.bg
On Friday Euro/Dollar broke the key resistance of the rising channel at 1.3500, climbed with over 300 pips, and closed the week at 1.3635. From a long term viewpoint, on the daily chart, quotes are now ready to challenge the general trend line, which should stand strong to keep intact the basic decreasing trend. But if broken further up, we may see the beginning of the long bullish scenario. Immediate support is 1.3495, followed by 1.3240. First resistance is this morning's top at 1.3670, the break of which may cause upward movement with targets towards 1.3785. The CCI indicator is in the neutral zone on the 4 hour chart, and crossing up the 100 line on the 1 hour chart, suggesting upward pressure. Technical resistance levels: 1.3670 1.3785 1.3900 Technical support levels: 1.3495 1.3340 1.3030
