EUR/USD Open 1.3864 High 1.3937 Low 1.3702 Close 1.3874
On Thursday Euro/Dollar continued recovering significantly with 235 pips. The European currency appreciated from 1.3702 to 1.3937 yesterday, matching the positive Interbank sentiment projection at +6%, closing the day at 1.3874. This morning the Euro is trading quietly against the Dollar, with movements at the upper end of yesterday's range for now. On the 1 hour chart new upward channel is emerging, while on the 3 hour the downward is on hold. Break above the nearest resistance and yesterday's top at 1.3864 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3702, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3588. Today's focus is on EU17 Current account and Trade balance, 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 positive and hesitant, MACD is positive and quiet, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 1.3864 1.3980 1.4100
Technical support levels: 1.3702 1.3588 1.3470
Trading range: 1.3845 - 1.3915
Buy at 1.3855 SL 1.3825 TP 1.3905
Yesterday we made +50 pips profit on EUR/USD from the following sent to clients only signal:
5:27 GMT+1 Buy EUR/USD at 1.3721 SL 1.3695 TP 1.3771, TP reached at 8:46 GMT+1.
Total yesterday +115, as shown in details at http://www.zifx.com/performance.php.