EUR/USD Open 1.3323 High 1.3369 Low 1.3144 Close 1.3343
On Tuesday Euro/Dollar increased significantly with 225 pips. The European currency appreciated from 1.3144 to 1.3369 yesterday, not matching the negative Interbank sentiment projection at almost -1%, closing the day at 1.3343. This morning the Euro is trading hesitantly at the upper side of yesterday's range for now. On the 1 hour chart quotes are testing the upper limit of the downward channel, while on the 3 hour chart the downward channel is intact. Break above the nearest resistance and yesterday's top at 1.3369 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3144, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3026. Today's focus is on Italy, France, Germany and EU17 PMI services, EU17 GDP Q2 and Retail sales, at 7:45, 7:50, 7:55, 8 and 9 GMT respectively. Quotes are moving just above the crossed and almost even 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and declining, MACD is thinly positive and quiet, while CCI has crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 1.3369 1.3483 1.3600
Technical support levels: 1.3144 1.3026 1.2900
Trading range: 1.3315 - 1.3245
Sell at 1.3305 SL 1.3335 TP 1.3255
Yesterday we made +50 pips profit on EUR/USD from the following sent to clients only signal:
5:27 GMT+1 Sell EUR/USD at 1.3224 SL 1.3250 TP 1.3174, TP reached at 8:44 GMT+1.
Total yesterday +169, as shown in details at http://www.zifx.com/performance.php.