EUR/USD Open 1.3580 High 1.3669 Low 1.3478 Close 1.3581
On Tuesday Euro/Dollar continued recovering with 190 pips. The European currency appreciated from 1.3478 to 1.3669 yesterday, matching the positive Interbank sentiment projection at almost +6%, closing the day at 1.3581. This morning the Euro is correcting, with movements still within 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 the downward channel is making renewal attempts. Break above the nearest resistance and yesterday's top at 1.3669 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3478, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3360. Today's focus is on France GDP Q2, Italy Business confidence, and Germany CPI and HICP, at 5:30, 9 and 12 GMT. Quotes are moving bellow the 20 and above the 50 EMA on the 1 hour chart, indicating short term bearish and medium term bullish pressure. The value of the RSI indicator is negative and calm, MACD is positive and declining, while CCI has just crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.3669 1.3783 1.3900
Technical support levels: 1.3478 1.3360 1.3244
Trading range: 1.3540 - 1.3615
Buy at 1.3553 SL 1.3523 TP 1.3603
Yesterday we made +46 pips profit on EUR/USD from the following sent to clients only signal:
5:26 GMT+1 Buy EUR/USD at 1.3523 SL 1.3497 TP 1.3573, exit sent at 7:41 GMT+1.
Total yesterday +124, as shown in details at http://www.zifx.com/performance.php.