EUR/USD Open 1.3780 High 1.3844 Low 1.3654 Close 1.3776
On Thursday Euro/Dollar decreased with 190 pips, forming range pattern. The European currency depreciated from 1.3844 to 1.3654 yesterday, not matching the positive Interbank sentiment projection at over +7%, closing the day at 1.3776. This morning the Euro recovered partially, with movements at the upper side of yesterday's range for now. On the 1 hour chart the upward channel is still on hold, while on the 3 hour chart range trading has formed. Break above the nearest resistance and yesterday's top at 1.3844 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3654, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3538. Today's focus is on France Business confidence and Germany IFO business climate index, at 6:45 and 8 GMT respectively. Quotes are moving just above the almost even the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and rising, MACD is neutral and quiet, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall all light long signals.
Technical resistance levels: 1.3844 1.3960 1.4081
Technical support levels: 1.3654 1.3538 1.3420
Trading range: 1.3760 - 1.3835
Buy at 1.3773 SL 1.3743 TP 1.3823
Yesterday we made +50 pips profit on EUR/USD from the following sent to clients only signal:
5:26 GMT+1 Sell EUR/USD at 1.3726 SL 1.3752 TP 1.3676, TP reached at 8:27 GMT+1.
Total yesterday +134, as shown in details at http://www.zifx.com/performance.php.