EUR/USD Open 1.4330 High 1.4400 Low 1.4252 Close 1.4329
On Thursday Euro/Dollar decreased further with 150 pips on continuing European debt uncertainty. The European currency depreciated from 1.4400 to 1.4252 yesterday, not matching the positive Interbank sentiment projection at almost +5%, closing the day at 1.4329. This morning the European currency is trading hesitantly, but within yesterday's range for now. On the 1 hour chart quotes are testing the lower limit of the upward channel, while on the 3 hour chart trading has moved into a wide range. Break above the nearest resistance and yesterday's top at 1.4400 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.4252, however, would confirm continuation of the bearish trend, towards next objective downwards 1.4139. Today's focus is on Germany Import prices, France PPI and Consumer spending, EU17 Harmonized CPI, and Italy CPI and HICP, at 6, 6:45 and 9 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 positive and declining, MACD is negative and quiet, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 1.4400 1.4516 1.4630
Technical support levels: 1.4252 1.4139 1.4020
Trading range: 1.4355 - 1.4285
Sell at 1.4345 SL 1.4375 TP 1.4295
Yesterday we made +11 pips profit on EUR/USD from the following signal:
5:30 GMT+1 Buy EUR/USD at 1.4362 SL 1.4336 TP 1.4412, exit sent at 6:53 GMT+1.
Total yesterday +92, as shown in details at http://www.zifx.com/performance.php.