EUR/USD Open 1.3582 High 1.3679 Low 1.3519 Close 1.3594
On Thursday Euro/Dollar increased with 160 pips, forming range trading since Tuesday. The European currency appreciated from 1.3519 to 1.3679 yesterday, matching the positive Interbank sentiment projection at over +2%, but lost all gains later, closing the day at 1.3594. This morning the Euro dropped further down to the lower range limit. On the 1 hour chart the downward channel is on hold, while on the 3 hour the downward channel has slowed down. Break above the nearest resistance and yesterday's top at 1.3679 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3519, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3400. Today's focus is on France Consumer spending and PPI, Italy Unemployment, CPI, HICP and PPI, and Harmonized CPI and Unemployment at 6:45, 8 and 9 GMT respectively. Quotes are moving bellow the even and crossed 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and declining, MACD is neutral and quiet, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.3679 1.3800 1.3921
Technical support levels: 1.3519 1.3400 1.3277
Trading range: 1.3520 - 1.3590
Buy at 1.3530 SL 1.3500 TP 1.3580
Yesterday we made +50 pips profit on EUR/USD from the following sent to clients only signal:
5:26 GMT+1 Buy EUR/USD at 1.3619 SL 1.3593 TP 1.3669, TP reached at 9:03 GMT+1.
Total yesterday +159, as shown in details at http://www.zifx.com/performance.php.