EUR/USD Open 1.4371 High 1.4469 Low 1.4353 Close 1.4368
On Wednesday Euro/Dollar continued decreasing with 110 pips. The European currency depreciated from 1.4469 to 1.4358 yesterday, not matching the positive Interbank sentiment projection at over +3%, closing the day at 1.4368. This morning the Euro descended slightly further against the Dollar, reaching down to 1.4353. On the 1 hour chart quotes are testing the lower limit of the upward channel, while on the 3 hour chart trading is still within wide range. Break above the nearest resistance and yesterday's top at 1.4469 may trigger further strengthening of the Euro. Going bellow today's bottom and first support at 1.4353, however, would confirm continuation of the bearish trend, towards next objective downwards 1.4240. Today's focus is on Germany GDP Q2, Italy, France, Germany and EU17 PMI, at 6, 7:45, 7:50, 7:55 and 8 GMT respectively. Quotes are moving above the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term bullish and medium term bearish pressure. The value of the RSI indicator is thinly positive and calm, MACD is positive and in the overbought zone, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 1.4469 1.4574 1.4700
Technical support levels: 1.4353 1.4240 1.4133
Trading range: 1.4385 - 1.4310
Sell at 1.4372 SL 1.4402 TP 1.4322
Yesterday we made +16 pips profit on EUR/USD from the following sent to clients only signal:
5:29 GMT+1 Sell EUR/USD at 1.4433 SL 1.4459 TP 1.4383, exit sent at 8:24 GMT+1.
Total yesterday +114, as shown in details at http://www.zifx.com/performance.php.