EUR/USD Open 1.3579 High 1.3802 Low 1.3531 Close 1.3562
On Wednesday Euro/Dollar decreased with nearly 250 pips on Fed's twist. The European currency depreciated from 1.3802 to 1.3555 yesterday, not matching the positive Interbank sentiment projection at over +3%, closing the day at 1.3562. This morning the Euro descended further against the Dollar, dropping down to 1.3531. On the 1 hour chart the range trading is forming, while on the 3 hour the downward channel is on hold. Break above the nearest resistance and yesterday's top at 1.3802 may trigger further strengthening of the Euro. Going bellow today's bottom and first support at 1.3531, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3420. Today's focus is on France, Germany and EU17 PMI, and EU17 Industrial orders, at 6:58, 7:28, 7:58 and 9 GMT respectively. Quotes are moving way bellow the twice crossed 20 and 50 EMA on the 1 hour chart, indicating strong bearish pressure. The value of the RSI indicator is negative and calm, MACD is negative and declining, while CCI has crossed down the 100 line on the 1 hour chart, giving overall short signals.
Technical resistance levels: 1.3802 1.4000 1.4116
Technical support levels: 1.3531 1.3420 1.3300
Trading range: 1.3560 - 1.3485
Sell at 1.3546 SL 1.3576 TP 1.3496
Yesterday we made +50 pips profit on EUR/USD from the following sent to clients only signal:
5:25 GMT+1 Sell EUR/USD at 1.3714 SL 1.3740 TP 1.3664, TP reached at 8:32 GMT+1.
Total yesterday +211, as shown in details at http://www.zifx.com/performance.php.