EUR/USD Open 1.4155 High 1.4283 Low 1.4114 Close 1.4138
On Thursday the Euro/Dollar adjusted downwards with 170 pips after S&P warning lasted short. The European currency depreciated from 1.4283 to 1.4114 yesterday, matching the negative Interbank sentiment projection at almost -2%, closing the day at 1.4138. This morning the European currency is moving hesitantly and within yesterday's range for now. On the 1 hour chart the new upward channel has slowed down, while on the 3 hour chart the downward channel was broken upwards. Break above the nearest resistance and yesterday's top at 1.4283 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.4114, however, would confirm continuation of the bearish trend, towards next objective downwards 1.4000. Today's focus is on Germany Wholesale prices and EU17 Trade balance, at 6 and 9 GMT respectively. Quotes are moving about in line with the even 20 and 50 EMA on the 1 hour chart, indicating neutral market. The value of the RSI indicator is positive and rising, MACD is neutral and quiet, while CCI is in line with the 100 line on the 1 hour chart, giving overall neutral to light long signals.
Technical resistance levels: 1.4283 1.4390 1.4500
Technical support levels: 1.4114 1.4000 1.3883
Trading range: 1.4155 - 1.4230
Buy at 1.4166 SL 1.4136 TP 1.4216
Yesterday we made +11 pips profit on EUR/USD from the following signal:
5:29 GMT+1 Buy EUR/USD at 1.4212 SL 1.4186 TP 1.4262, exit sent at 6:18 GMT+1.
Total yesterday +129, as shown in details at http://www.zifx.com/performance.php.