EUR/USD Open 1.3679 High 1.3739 Low 1.3557 Close 1.3677
On Tuesday Euro/Dollar increased with 180 pips. The European currency appreciated from 1.3557 to 1.3739 yesterday, not matching the negative Interbank sentiment projection at bellow -1%, closing the day at 1.3677. This morning the Euro is trading hesitantly against the Dollar, with movements still within yesterday's range for now. On the 1 hour chart the downward channel has slowed down, while on the 3 hour the downward channel looks fine. Break above the nearest resistance and yesterday's top at 1.3739 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3557, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3443. Today's focus is on EU17 Industrial production at 9 GMT. Quotes are moving just bellow the close 20 and in line with the 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and inclining upwards, MACD is negative and quiet, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.3739 1.3855 1.3974
Technical support levels: 1.3557 1.3443 1.3327
Trading range: 1.3665 - 1.3590
Sell at 1.3651 SL 1.3681 TP 1.3601
Yesterday we made +50 pips profit on EUR/USD from the following sent to clients only signal:
5:24 GMT+1 Sell Sell EUR/USD at 1.3688 SL 1.3714 TP 1.3638, TP reached at 8:02 GMT+1.
Total yesterday +166, as shown in details at http://www.zifx.com/performance.php.