EUR/USD Recovery Held By Poor Euro-Zone and Germany GDP

By @ibtimes on

EUR/USD Open 1.4395 High 1.4473 Low 1.4353 Close 1.4406

On Tuesday Euro/Dollar traded within 120 pip range. The European currency appreciated from 1.4353 to 1.4473 yesterday, being shaken by the poor Euro-zone and Germany GDP, matching the positive Interbank sentiment projection at almost +3%, closing the day at 1.4406. This morning the Euro currency is making recovery attempts against the Dollar, with movements still within yesterday's range for now. On the 1 hour chart quotes are testing the upper limit of the trading range, while on the 3 hour chart trading is within wider range. Break above the nearest resistance and yesterday's top at 1.4473 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.4353, however, would confirm continuation of the bearish trend, towards next objective downwards 1.4222. Today's focus is on EU17 Current account and Harmonized CPI, at 8 and 9 GMT respectively. Quotes are moving just above the even 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is neutral and calm, MACD is neutral and quiet too, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall neutral to light long signals.
Technical resistance levels: 1.4473 1.4590 1.4700
Technical support levels: 1.4353 1.4222 1.4114

Trading range: 1.4385 - 1.4460
Trend: Upward
Buy at 1.4397 SL 1.4367 TP 1.4447

Yesterday we made +31 pips profit on EUR/USD from the following signal:
7:00 GMT+1 Sell EUR/USD at 1.4397 SL 1.4423 TP 1.4347, exit sent at 8:11 GMT+1.
Total yesterday +122, as shown in details at http://www.zifx.com/performance.php.

ZIFX.com

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