EUR/USD Open 1.3128 High 1.3217 Low 1.3079 Close 1.3129
On Tuesday Euro/Dollar continued decreasing with 140 pips. The European currency depreciated from 1.3217 to 1.3079 yesterday, not matching the positive Interbank sentiment projection at over +5%, closing the day at 1.3129. This morning the Euro is adjusting upwards, moving still within yesterday's range for now. On the 1 hour chart range trading has formed, while on the 3 hour the upward channel is on hold. Break above the nearest resistance and yesterday's top at 1.3217 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3079, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2960. Today's focus is on France, Germany GDP Q4, Germany Wholesale prices, Italy GDP Q4, EU17 GDP Q3, and EU17 Trade balance, at 6:30, 7, 9 and 10 GMT respectively. Quotes are moving above the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term bullish and medium term bearish pressure. The value of the RSI indicator is positive and rising, MACD is negative and inclining upwards, while CCI has crossed up the 100 line on the 1 hour chart, giving overall all light long signals.
Technical resistance levels: 1.3217 1.3340 1.3464
Technical support levels: 1.3079 1.2960 1.2838
Yesterday we made +16 pips profit on EUR/USD from the following sent to clients only signal:
6:27 GMT Sell EUR/USD at 1.3142 SL 1.3177 TP 1.3092, exit sent at 6:31 GMT+1.
Total yesterday +92, as shown in details at http://www.zifx.com/performance.php.