EUR/USD Open 1.3054 High 1.3119 Low 1.3016 Close 1.3047
On Thursday Euro/Dollar traded within 100 pip range, repeating the patern of ascending in the morning, and descending in the afternoon. The European currency climbed first to 1.3119, than dropped to 1.3016 yesterday, matching the neutral Interbank sentiment projection at under +1%, closing the day at 1.3047. This morning the Euro is trading quietly, and within yesterday's range for now. On the 1 hour chart the downward channel is still on hold, while on the 3 hour the downward channel is hanging too. Break above the nearest resistance and yesterday's top at 1.3119 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3016, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2900. Today's focus is on France GDP and PPI, and Italy Consumer confidence, at 6:30, 7:45 and 9 GMT respectively. Quotes are moving just above the close 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is neutral and declining, MACD is neutral and quiet, while CCI has crossed up the 100 line on the 1 hour chart, giving overall all neutral signals. Merry Christmas!
Technical resistance levels: 1.3119 1.3233 1.3360
Technical support levels: 1.3016 1.2900 1.2773
Trading range: 1.3050 - 1.3115
Buy at 1.3064 SL 1.3034 TP 1.3104
Yesterday we made +50 pips profit on EUR/USD from the following sent to clients only signal:
5:21 GMT Buy EUR/USD at 1.3042 SL 1.3016 TP 1.3092, TP reached at 8:05 GMT+1.
Total yesterday +164, as shown in details at http://www.zifx.com/performance.php.