EUR/USD Open 1.4362 High 1.4374 Low 1.4219 Close 1.4356
On Thursday the Euro/Dollar continued decreasing, even after ECB conference, later jumped with 155 pips. The European currency appreciated from 1.4219 to 1.4374 yesterday, matching the positive Interbank sentiment projection at nearly +3%, closing the day at 1.4356. This morning the European is trading quietly and within yesterday's range for now. On the 1 hour chart new range trading has emerged, while on the 3 hour chart trading remains within wide range. Break above the nearest resistance and yesterday's top at 1.4374 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.4219, however, would confirm continuation of the bearish trend, towards next important objective downwards 1.4111. Today's focus is on Germany Current account and Trade balance, and Italy Industrial production, at 6 and 8 GMT respectively. Quotes are moving about in line with the crossing 20 and 50 EMA on the 1 hour chart, indicating neutral market. The value of the RSI indicator is negative and declining, MACD is neutral and quiet, while CCI is in line with the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.4374 1.4482 1.4600
Technical support levels: 1.4219 1.4111 1.4000
Trading range: 1.4350 - 1.4280
Sell at 1.4340 SL 1.4370 TP 1.4290
Yesterday we made +49 pips profit on EUR/USD from the following signal:
5:30 GMT+1 Sell EUR/USD at 1.4327 SL 1.4353 TP 1.4277, exit sent at 8:49 GMT+1.
Total yesterday +111, as shown in details at http://www.zifx.com/performance.php.