Range Yesterday: 130.89 - 132.12 (Close 131.12)
Key 24 Hour Support & Resistance Today: 130.30 - 131.90
EUROPEAN UPDATE / Rate - 131.50
The USD has already appreciated during the Asian market, resulting in a test of medium key resistance at 131.60/70. This move has increased the confidence in today's bullish MITS signal significantly, and we now remain very optmistic for the target at 131.90 to be reached by NY close. Beyond, a further upmove to 132.40 is possible. To the downside, support at 130.80 should now prove formidable.
European Trade: Long USD @ 131.50 (SL 130.80) - Profit Order 132.40
AMERICAN UPDATE / to come.. GMT 12.30
American Trade:
MITS Recommendation: Buy USD @ 130.85 (SL 130.30) - Profit Order 131.90
MITS Performance for January: - 131
Trend Profile (Current Position/Trade 3): Short USD - January 15th (Europe) @ 130.99
Next Strategic Trade: Exit short USD positions & go long @ 133.38
Strategic Trading Performance for 2002: + 319
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