EURUSD Daily Market Thought 05042011

Euro remain bullish last months. Looking to weekly and monthly major resistance sitting between [1.45,1.47]  area, but for now euro remain unable to break last year high 1.4281.

Short-term nothing new last sessions still trading small range between [1.4050,1.4220].

Last swing high, started last week and  reversal today with bearish divergence price/indicador (again unable to break and hold 1.4281) first  signal that possible EURUSD is losing momentum.

Euro losing momentum last sessions but trend remain bullish above 1.40, bullish target remain intact for now [1.45,1.47] is the key level( major resistance) but before that bulls need to break 1.4281.

Bearish scenario close daily below 1.40 expect 1.3826 possible extension to 1.3580 next weeks.

Click to zoon in. Good Luck folks.