EUR/USD Open 1.4318 High 1.4451 Low 1.4270 Close 1.4330
On Thursday Euro/Dollar decreased with almost 180 pips on European debt woes. The European currency appreciated from 1.4451 to 1.4270 yesterday, not matching the positive Interbank sentiment projection at almost +3%, closing the day at 1.4330. This morning the Euro is trading hesitantly against the Dollar, with movements within yesterday's range for now. On the 1 hour chart quotes are back into the range, while on the 3 hour chart trading is within wide range. Break above the nearest resistance and yesterday's top at 1.4451 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.4270, however, would confirm continuation of the bearish trend, towards next objective downwards 1.4154. Today's focus is on Germany PPI at 6 GMT. Quotes are moving just bellow the crossed 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is neutral and inclining upwards, MACD is negative and quiet, while CCI has crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.4451 1.4568 1.4685
Technical support levels: 1.4270 1.4154 1.4040
Trading range: 1.4320 - 1.4245
Sell at 1.4307 SL 1.4337 TP 1.4257
Yesterday we made +50 pips profit on EUR/USD from the following signal:
5:28 GMT+1 Buy EUR/USD at 1.4387 SL 1.4361 TP 1.4437, TP reached at 9:06 GMT+1.
Total yesterday +162, as shown in details at http://www.zifx.com/performance.php.