EUR/USD Open 1.2282 High 1.2344 Low 1.2263 Close 1.2288
On Wednesday Euro/Dollar decreased with 80 pips. The European currency depreciated from 1.2344 to 1.2263 yesterday, matching the negative money flow sentiment at nearly -15%, closing the day at 1.2288. This morning the Euro is trading quietly, with movements at the lower end of yesterday's range for now.
On the 1 hour chart small angle wide upward channel has formed, while on the 3 hour chart the downward channel is still on hold. Break above the nearest resistance and yesterday's top at 1.2344 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.2263, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2150.
Today's focus is on EU17 Harmonized CPI at 9 GMT.
Quotes are moving just bellow the even 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and calm, MACD is positive and quiet, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.2344 1.2460 1.2583
Technical support levels: 1.2263 1.2150 1.2027
Yesterday we made +33 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:18 GMT+1 Buy EUR/USD at 1.2322 SL 1.2296 TP 1.2372, exit sent at 7:35 GMT+1.
Total yesterday +88, as shown at http://www.zifx.com/performance.php.