Long term: above 1.50 at the end of 2009

On a yearly basis, Bollinger band spread is not minimal, LY is flat but UY is rising. Our 7 / 23 moving averages are up and our MACD will not be overbought for two periods or more. UY (1.4941) could be a target.

On a quarterly basis, the trend for our 7 / 23 quarters moving averages is neutral.  Our stochastic and MACD are overbought but could be neutral / oversold at the end of 2009. As long as MQ (1.3353) proves to be a support, UQ (1.5439) is our main target.

On a monthly basis, the UM / LM spread is maximal. A bearish A type crossover is the status for our 7 / 23 months moving averages. The status for our stochastic and MACD is oversold. Above PM (1.4638), UY (1.4942) is our main target.

Idea: strong bullish trend above PM (1.4638)

R = PM (1.4538), UY (1.4942), +++;    S =MW (1.3245)

Medium term: rise

On a weekly basis, Bollinger bands spread was far away from its minimal level (when a pseudo bullish T1 occurred and now is expending with a nice dynamic. As long as our 23 weeks moving average is up the rise will continue (and amplify with the dynamic for M23). A bullish non-crossover is in progress with our MACD. PM (1.4538) is our first target.

Idea: No bullish ATDMF pattern as long as PM proves to be a resistance.

R = PM (1.4538), UY (1.4942);       S = MW (1.3246)

Short term: rise

On a daily basis, our moving averages, stochastic and MACD are up. As long as our MACD is not overbought, the rise could continue.

Idea: long in intraday trading if PM fails as a resistance.

R = PM (1.4538), UY (1.4942);          S = MD (1.3809)

Conclusion: towards UM (1.6357) if PM (1.4538) fails as a resistance.