EUR/USD Open 1.2899 High 1.2937 Low 1.2814 Close 1.2898
On Wednesday Euro/Dollar continued increasing with 120 pips on the German court ruling. The European currency appreciated from 1.2814 to 1.2937 yesterday, matching the positive money flow sentiment at almost 22%, closing the day at 1.2898. This morning the Euro is puching up again, with movements still within yesterday's range for now.
On the 1 hour chart the upward channel looks good, while on the 3 hour chart the new upward channel is also intact. Break above the nearest resistance and yesterday's top at 1.2937 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.2814, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2700.
Today's focus is on Italy CPI and HICP, USA Jobless claims, PPI, FOMC meeting announcement, Federal budget, Bernanke press conference, and M2 money supply, at 8, 12:30, 16:30, 18, 18:15 and 20:30 GMT respectively.
Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and inclining upwards, while CCI has crossed up the 100 line on the 1 hour chart, giving over all long signals.
Technical resistance levels: 1.2937 1.3050 1.3172
Technical support levels: 1.2814 1.2700 1.2577
Yesterday we made +50 pips profit/loss on EUR/USD from the following sent to clients only signal:
9:06 GMT+1 Buy EUR/USD at 1.2814 SL 1.2788 TP 1.2864, TP reached at 9:14 GMT+1.
Total yesterday +165, as shown at http://www.zifx.com/performance-past.php.