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On Thursday the Euro/Dollar continued trading within around 100 pips range. The European appreciated from 1.2663 to 1.2766 yesterday, matching the positive Interbank sentiment projection, at around +6%, closing the day at 1.2693. This morning bears pushed a litte lower to 1.2643. On the 1 hour chart trading is still within wide range, and on the 3 hour chart range trading is also formed. Break above the nearest resistance and yesterday's top at 1.2766 may trigger further recovery of the Euro. Going bellow this morning's bottom and first support at 1.2643, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2550. Today's focus is on France and Italy Industrial production, and Italy GDP Q2 at 6:45, 8, and 9 GMT respectively. Quotes are moving just bellow the 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure, with warning last green candles. The value of the RSI indicator is negative and inclining upwards, MACD is negative and quiet, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.2766 1.2868 1.2980
Technical support levels: 1.2643 1.2550 1.2459
Yesterday we made +38 pips profit on EUR/USD from the following signal:
5:36 GMT+1 Sell EUR/USD at 1.2702 SL 1.2728 TP 1.2652 exit sent at 8:15 GMT+1.
Total yesterday +109, as shown in details at http://www.zifx.com/performance.php.
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