EUR/USD Open 1.3477 High 1.3602 Low 1.3383 Close 1.3457
On Thursday Euro/Dollar continued decreasing significantly with 220 pips. The European currency depreciated from 1.3602 to 1.3383 yesterday, not matching the slim positive Interbank sentiment projection at under 0%, closing the day at 1.3457. This morning the Euro is trading quietly, and within yesterday's range for now. On the 1 hour chart the downward channel has resumed, while on the 3 hour the downward channel is also making renewal attempts. Break above the nearest resistance and yesterday's top at 1.3602 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3383, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3269. Today's focus is on France Consumer and Business confidence, and Italy Retail sales, at 6:45 and 8 GMT respectively. Quotes are moving just above 20 and bellow the 50 EMA on the 1 hour chart, indicating short term slim bullish and medium term bearish pressure. The value of the RSI indicator is positive and declining, MACD is negative and inclining upwards, while CCI has crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 1.3602 1.3720 1.3841
Technical support levels: 1.3383 1.3269 1.3150
Trading range: 1.3530 - 1.3455
Sell at 1.3516 SL 1.3546 TP 1.3466
Yesterday we made +24 pips profit on EUR/USD from the following sent to clients only signal:
5:26 GMT+1 Sell EUR/USD at 1.3550 SL 1.3576 TP 1.3500, exit sent at 6:07 GMT+1.
Total yesterday +193, as shown in details at http://www.zifx.com/performance.php.