EUR/USD Open 1.4430 High 1.4533 Low 1.4383 Close 1.4440
On Tuesday Euro/Dollar decreased significantly with 150 pips. The European currency depreciated from 1.4533 to 1.4383 yesterday, not matching the positive Interbank sentiment projection at over +3%, closing the day at 1.4440. This morning the Euro is trading quietly against the Dollar, and within yesterday's range for now. On the 1 hour chart quotes are testing the lower limit of the upward channel, while on the 3 hour chart trading is still within wide range. Break above the nearest resistance and yesterday's top at 1.4533 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.4383, however, would confirm continuation of the bearish trend, towards next objective downwards 1.4270. Today's focus is on Germany Unemployment, Italy CPI, HICP and PPI, EU17 Harmonized CPI and Unemployment, at 7:55 and 9 GMT respectively. Quotes are moving in line with the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term neutral and medium term bearish pressure. The value of the RSI indicator is neutral and calm, MACD is negative and quiet, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving overall neutral to light short signals.
Technical resistance levels: 1.4533 1.4650 1.4766
Technical support levels: 1.4383 1.4270 1.4152
Trading range: 1.4450 - 1.4375
Sell at 1.4437 SL 1.4467 TP 1.4387
Yesterday we made +28 pips profit on EUR/USD from the following sent to clients only signal:
7:43 GMT+1 Buy EUR/USD at 1.4480 SL 1.4454 TP 1.4530, exit sent at 8:03 GMT+1.
Total yesterday +117, as shown in details http://www.zifx.com/performance.php.