EUR/USD Open 1.3326 High 1.3412 Low 1.3302 Close 1.3345
On Thursday Euro/Dollar traded within 100 pip range. The European currency depreciated from 1.3412 to 1.3311 yesterday, matching the negative Interbank sentiment projection at nearly -5%, closing the day at 1.3345. This morning the Euro resumed weakening, reaching 1.3302. On the 1 hour chart the downward channel looks good, while on the 3 hour chart new downward channel has emerged. Break above the nearest resistance and yesterday's top at 1.3412 may trigger further strengthening of the Euro. Going bellow today's bottom and first support at 1.3302, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3185. Today's focus is on France Consumer confidence and Italy Retail sales, at 7:45 and 9 GMT respectively. Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and hesitant, 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: 1.3412 1.3532 1.3650
Technical support levels: 1.3302 1.3185 1.3060
Trading range: 1.3325 - 1.3250
Sell at 1.3314 SL 1.3344 TP 1.3264
Yesterday we made +22 pips profit on EUR/USD from the following sent to clients only signal:
5:23 GMT Sell EUR/USD at 1.3375 SL 1.3401 TP 1.3325, exit sent at 6:06 GMT+1.
Total yesterday +89, as shown in details at http://www.zifx.com/performance.php.