EUR/USD Open 1.3866 High 1.3994 Low 1.3796 Close 1.3899
On Wednesday Euro/Dollar decreased with 220 pips, as the EU summit left many doubts. The European currency depreciated from 1.3976 to 1.3796 yesterday, not matching the positive Interbank sentiment projection at almost +10%, closing the day at 1.3899. This morning the Euro recovered, climbing even further up to 1.3994. On the 1 hour chart the upward channel has slowed down, while on the 3 hour chart the range trading has widened. Break above the nearest resistance and today's top at 1.3994 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3796, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3680. Today's focus is on EU17 M3 money supply, Economic sentiment index and Business climate indicator, and Germany CPI and HICP, at 8, 9 and 12 GMT respectively. Quotes are moving above the almost even 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and rising, MACD is slightly positive and quiet, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall all long signals.
Technical resistance levels: 1.3994 1.4110 1.4233
Technical support levels: 1.3796 1.3680 1.3559
Trading range: 1.3960 - 1.4035
Buy at 1.3974 SL 1.3944 TP 1.4024
Yesterday we made +30 pips profit on EUR/USD from the following sent to clients only signal:
5:24 GMT+1 Buy EUR/USD at 1.3919 SL 1.3893 TP 1.3969, exit sent at 9:07 GMT+1.
Total yesterday +107, as shown in details at http://www.zifx.com/performance.php.