EUR/USD Open 1.2355 High 1.2373 Low 1.2255 Close 1.2354
On Thursday Euro/Dollar increased with almost 120 pips. The European currency appreciated from 1.2255 to 1.2373 yesterday, not matching the negative money flow sentiment at around -17%, closing the day at 1.2354. This morning the Euro is trading quietly, with movements at the upper end of yesterday's range for now.
On the 1 hour chart wide range trading 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 1.2373 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.2255, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2140.
Today's focus is on Germany PPI, and EU17 Current account and Trade balance, at 6, 8 and 9 GMT respectively.
Quotes are moving just above the almost even 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and quiet too, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.2373 1.2490 1.2614
Technical support levels: 1.2255 1.2140 1.2013
Yesterday we made +29 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:14 GMT+1 Sell EUR/USD at 1.2284 SL 1.2310 TP 1.2234, exit sent at 7:50 GMT+1.
Total yesterday +101, as shown at http://www.zifx.com/performance.php.