EUR/USD Open 1.4314 High 1.4442 Low 1.4285 Close 1.4351
On Tuesday the Euro/Dollar began decreasing in the afternoon, after the FED statement, with 130 pips. The European currency depreciated from 1.4442 to 1.4309 yesterday, not matching the positive Interbank sentiment projection at over +1%, closing the day at 1.4351. This morning the European currency weakened further, dropping down to 1.4285. On the 1 hour chart the downward channel has slowed down, while on the 3 hour chart trading remains within wide range. Break above the nearest resistance and yesterday's top at 1.4442 may trigger further strengthening of the Euro. Going bellow today's bottom and first support at 1.4285, however, would confirm continuation of the bearish trend, towards next important objective downwards 1.4170. Today's focus is on France, Germany and EU17 PMI, and Italy Consumer confidence, at 7, 7:30 and 9 GMT respectively. Quotes are moving bellow the almost even 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and declining, 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: 1.4442 1.4550 1.4668
Technical support levels: 1.4285 1.4170 1.4056
Trading range: 1.4325 - 1.4250
Sell at 1.4311 SL 1.43417 TP 1.4261
Yesterday we made +50 pips profit on EUR/USD from the following signal:
5:30 GMT+1 Buy EUR/USD at 1.4366 SL 1.4340 TP 1.4416, TP reached at 7:30 GMT+1.
Total yesterday +129, as shown in details at http://www.zifx.com/performance.php.