EUR/USD Open 1.4412 High 1.4438 Low 1.4137 Close 1.4422
On Thursday Euro/Dollar increased significantly with 300 pips on Greece bailout confirmation. The European currency appreciated from 1.4137 to 1.4438 yesterday, not matching the negative Interbank sentiment projection at under -4%, closing the day at 1.4422. This morning the European currency is trading quietly, and at the top side of yesterday's range for now. On the 1 hour chart new upward channel has emerging, while on the 3 hour chart trading hs moved into a range. Break above the nearest resistance and yesterday's top at 1.4438 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.4137, however, would confirm continuation of the bearish trend, towards next objective downwards 1.4017. Today's focus is on Germany IFO business climate index, Italy Retail sales and EU17 Industrial orders, at 8 and 9 GMT respectively. Quotes are moving just above the 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 positive and quiet, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 1.4438 1.4550 1.4668
Technical support levels: 1.4137 1.4017 1.3900
Trading range: 1.4370 - 1.4445
Buy at 1.4383 SL 1.4353 TP 1.4433
Yesterday we made +39 pips profit on EUR/USD from the following signal:
5:26 GMT+1 Buy EUR/USD at 1.4256 SL 1.4230 TP 1.4306, exit sent at 8:03 GMT+1.
Total yesterday +139, as shown in details at http://www.zifx.com/performance.php.