EUR/USD Open 1.3599 High 1.3810 Low 1.3584 Close 1.3682
On Monday Euro/Dollar continued decreasing significantly with 220 pips. The European currency depreciated from 1.3810 to 1.3584 yesterday, not matching the positive Interbank sentiment projection at over +2%, closing the day at 1.3682. This morning the Euro is trading quietly against the Dollar, at the lower end of yesterday's range for now. On the 1 hour chart the downward channel is attempting to renew, while on the 3 hour the downward channel is on hold. Break above the nearest resistance and yesterday's top at 1.3810 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3584, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3470. Today's focus is on Germany PPI and ZEW economic expectations index, at 6 and 9 GMT respectively. Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is neutral and calm, MACD is negative and quiet, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.3810 1.3928 1.4050
Technical support levels: 1.3584 1.3470 1.3350
Trading range: 1.3635 - 1.3560
Sell at 1.3622 SL 1.3652 TP 1.3572
Yesterday we made +30 pips profit on EUR/USD from the following sent to clients only signal:
7:55 GMT+1 Sell EUR/USD at 1.3693 SL 1.3719 TP 1.3643, exit sent at 9:41 GMT+1.
Total yesterday +85, as shown in details at http://www.zifx.com/performance.php.