EUR/USD Open 1.3342 High 1.3532 Low 1.3319 Close 1.3341
On Wednesday Euro/Dollar resumed decreasing with 210 pips. The European currency depreciated from 1.3532 to 1.3319 yesterday, matching the negative Interbank sentiment projection at bellow -4%, closing the day at 1.3341. This morning the Euro is trading quietly at the lower end of yesterday's range for now. On the 1 hour chart the downward channel has renewed, while on the 3 hour chart new downward channel has emerged. Break above the nearest resistance and yesterday's top at 1.3532 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3319, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3200. Today's focus is on Germany GDP Q3 and IFO, and Italy Consumer confidence, at 7, 9 and 10 GMT respectively. Quotes are moving almost in line with 20 and bellow the 50 EMA on the 1 hour chart, indicating short term neutral and medium term bearish pressure. The value of the RSI indicator is thinly positive and inclining upwards, MACD is negative and quiet, while CCI is in line with the 100 line on the 1 hour chart, giving overall all neutral signals.
Technical resistance levels: 1.3532 1.3650 1.3773
Technical support levels: 1.3319 1.3200 1.3174
Trading range: 1.3385 - 1.3315
Sell at 1.3375 SL 1.3405 TP 1.3325
Yesterday we made +18 pips profit on EUR/USD from the following sent to clients only signal:
5:23 GMT Buy EUR/USD at 1.3463 SL 1.3437 TP 1.3513, exit sent at 7:16 GMT+1.
Total yesterday +115, as shown in details at http://www.zifx.com/performance.php.