EUR/USD Open 1.4432 High 1.4500 Low 1.4352 Close 1.4440
On Tuesday Euro/Dollar increased significantly with 150 pips on good German PMI. The European currency appreciated from 1.4352 to 1.4500 yesterday, matching the positive Interbank sentiment projection at over +1%, later losing almost all gains, closing the day at 1.4357. This morning the Euro is trading quietly against the Dollar, with movements 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 1.4500 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.4352, however, would confirm continuation of the bearish trend, towards next objective downwards 1.4230. Today's focus is on Germany IFO business climate index and EU17 Industrial orders, at 8 and 9 GMT respectively. 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 positive and calm, MACD is neutral and quiet, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 1.4500 1.4616 1.4740
Technical support levels: 1.4352 1.4230 1.4112
Trading range: 1.4395 - 1.4470
Buy at 1.4406 SL 1.4376 TP 1.4456
Yesterday we made +50 pips profit on EUR/USD from the following signal:
5:29 GMT+1 Buy EUR/USD at 1.4366 SL 1.4340 TP 1.4416, TP reached at 8:28 GMT+1.
Total yesterday +160, as shown in details at http://www.zifx.com/performance.php.