EUR/USD Open 1.3623 High 1.3818 Low 1.3590 Close 1.3631
On Monday Euro/Dollar decreased significantly with 230 pips on continuing European debt woes. The European currency depreciated from 1.3818 to 1.3590 yesterday, not matching the positive Interbank sentiment projection at over +5%, closing the day at 1.3631. This morning the Euro is trading quietly, and at the lower end of yesterday's range for now. On the 1 hour chart range trading has emerged, while on the 3 hour chart wider range trading has formed. Break above the nearest resistance and yesterday's top at 1.3818 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3590, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3474. Today's focus is on France, Germany and EU17 GDP Q3, and Germany ZEW economic expectations index at 6:30, 7 and 10 GMT respectively. Quotes are moving just bellow the twisted (for changes of direction) 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and inclining upwards, MACD is negative and quiet, while CCI has crossed down the 100 line on the 1 hour chart, giving overall all light short signals.
Technical resistance levels: 1.3818 1.3933 1.4060
Technical support levels: 1.3590 1.3474 1.3350
Trading range: 1.3625 - 1.3550
Sell at 1.3614 SL 1.3644 TP 1.3564
Yesterday we made +15 pips profit on EUR/USD from the following sent to clients only signal:
5:23 GMT Buy EUR/USD at 1.3760 SL 1.3734 TP 1.3810, exit sent at 7:07 GMT+1.
Total yesterday +168, as shown in details at http://www.zifx.com/performance.php.