EUR/USD Open 1.4107 High 1.4168 Low 1.4013 Close 1.4111
On Monday the Euro/Dollar decreased with 150 pips on debt issue still hanging. The European currency depreciated from 1.4168 to 1.4013 yesterday, matching the negative Interbank sentiment projection at almost -2%, closing the day at 1.4111. This morning the European currency recovered almost all yesterday's losses, with movements still within yesterday's range for now. On the 1 hour chart the downward channel is making renewal attempts, while on the 3 hour chart the downward channel has slowed down. Break above the nearest resistance and yesterday's top at 1.4168 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.4013, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3900. Today's focus is on Germany ZEW economic expectations index at 9 GMT. Quotes are moving just above the close 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is neutral and quiet, while CCI has crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 1.4168 1.4280 1.4400
Technical support levels: 1.4013 1.3900 1.3784
Trading range: 1.4130 - 1.4060
Sell at 1.4120 SL 1.4150 TP 1.4070
Yesterday we made +50 pips profit on EUR/USD from the following signal:
5:30 GMT+1 Sell EUR/USD at 1.4077 SL 1.4103 TP 1.4027, TP reached at 8:28 GMT+1.
Total yesterday +100, as shown in details at http://www.zifx.com/performance.php.