EUR/USD Open 1.4422 High 1.4554 Low 1.4395 Close 1.4419
On Tuesday the Euro/Dollar struggling, decreasing with 160 pips. The European currency depreciated from 1.4554 to 1.4395 yesterday, not matching the positive Interbank sentiment projection at nearly +7%, closing the day at 1.4419. This morning the European currency corrected insignificantly, with movements within yesterday's range for now. On the 1 hour chart the upward channel was broken downwards, while on the 3 hour chart trading remains within wide range. Break above the nearest resistance and yesterday's top at 1.4554 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.4395, however, would confirm continuation of the bearish trend, towards next important objective downwards 1.4280. Today's focus is on EU17 GDP Q1 and Germany Manufacturing, at 9 and 10 GMT respectively. Quotes are moving in line with the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term neutral and medium term bearish pressure. The value of the RSI indicator is neutral and hesitant, MACD is negative and quiet, while CCI is in line with the 100 line on the 1 hour chart, giving overall neutral to light short signals.
Technical resistance levels: 1.4554 1.4672 1.4790
Technical support levels: 1.4395 1.4280 1.4167
Trading range: 1.4470 - 1.4410
Sell at 1.4460 SL 1.4490 TP 1.4420
Yesterday we made +13 pips profit on EUR/USD from the following signal:
7:17 GMT+1 Sell EUR/USD at 1.4474 SL 1.4500 TP 1.4424, exit sent at 8:17 GMT+1.
Total yesterday +113, as shown in details at http://www.zifx.com/performance.php.