EUR/USD Open 1.4224 High 1.4283 Low 1.3960 Close 1.4161
On Wednesday the Euro/Dollar commenced inreasing strongly after Bernanke's speech and US debt issue brought up, with 280 pips. The European currency appreciated from 1.3960 to 1.4243 yesterday, not matching the negative Interbank sentiment projection at under -1%, closing the day at 1.4161. This morning the European currency recovered even further, climbing up to 1.4283. On the 1 hour chart new upward channel is emerging, while on the 3 hour chart the downward channel was broken upwards. Break above the nearest resistance and today's top at 1.4283 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3960, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3846. Today's focus is on Italy CPI and HICP, and EU17 Harmonized CPI, at 8 and 9 GMT respectively. Quotes are moving just ebove the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and declining, MACD is positive and quiet, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 1.4283 1.4390 1.4500
Technical support levels: 1.3960 1.3846 1.3730
Trading range: 1.4200 - 1.4275
Buy at 1.4212 SL 1.4182 TP 1.4262
Yesterday we made +26 pips profit on EUR/USD from the following signal:
5:30 GMT+1 Sell EUR/USD at 1.4008 SL 1.4034 TP 1.3958, exit sent at 5:59 GMT+1.
Total yesterday +115, as shown in details at http://www.zifx.com/performance.php.