EUR/USD Open 1.4522 High 1.4549 Low 1.4465 Close 1.4508
On Monday Euro/Dollar increased insignificantly with 85 pips. The European currency appreciated from 1.4465 to 1.4549 yesterday, matching the positive Interbank sentiment projection at almost +3%, than corrected downwards on good US consumer spending data, closing the day at 1.4508. This morning the Euro is trading hesitantly against the Dollar, and within yesterday's range for now. On the 1 hour chart the upward channel is attempting to resume, while on the 3 hour chart trading is still within wide range. Break above the nearest resistance and yesterday's top at 1.4549 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.4465, however, would confirm continuation of the bearish trend, towards next objective downwards 1.4349. Today's focus is on Italy Retail sales, Business confidence, and EU17 Economic sentiment and Business climate indicator, at 8 and 9 GMT respectively. Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is negative and calm, MACD is positive and quiet, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 1.4549 1.4667 1.4786
Technical support levels: 1.4465 1.4349 1.4233
Trading range: 1.4500 - 1.4575
Buy at 1.4512 SL 1.4482 TP 1.4562
Yesterday we made +50 pips profit on EUR/USD from the following signal:
5:27 GMT+1 Buy EUR/USD at 1.4491 SL 1.4465 TP 1.4541, TP reached at 6:21 GMT+1.
Total yesterday +134, as shown in details at http://www.zifx.com/performance.php.