EUR/USD Open 1.4270 High 1.4334 Low 1.4124 Close 1.4253
On Thursday the Euro/Dollar plummeted, decreasing with 220 pips, but later stabalized on Greece deal assurance. The European currency depreciated from 1.4334 to 1.4124 yesterday, not matching the positive Interbank sentiment projection at over +1%, closing the day at 1.4253. This morning the European currency is trading quietly, and within yesterday's range for now. On the 1 hour chart the downward channel is on hold, while on the 3 hour chart trading remains within wide range. Break above the nearest resistance and yesterday's top at 1.4334 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.4124, however, would confirm continuation of the bearish trend, towards next important objective downwards 1.4015. Today's focus is on Germany Import prices, France Consumer confidence, Germany IFO business climate index and Italy Retail sales, at 6, 6:45 and 8 GMT respectively. Quotes are moving above 20 and bellow the 50 EMA on the 1 hour chart, indicating short term bullish and medium term bearish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is negative and quiet, while CCI has crossed up the 100 line on the 1 hour chart, giving overall neutral to light long signals.
Technical resistance levels: 1.4334 1.4450 1.4567
Technical support levels: 1.4124 1.4015 1.3900
Trading range: 1.4755 - 1.4200
Sell at 1.4264 SL 1.4294 TP 1.4214
Yesterday we made +50 pips profit on EUR/USD from the following signal:
5:30 GMT+1 Sell EUR/USD at 1.4311 SL 1.4337 TP 1.4261, TP reached at 8:15 GMT+1.
Total yesterday +120, as shown in details at http://www.zifx.com/performance.php.