EUR/USD Open 1.4175 High 1.4438 Low 1.4127 Close 1.4173
On Monday Euro/Dollar decreased significantly with 310 pips on Euro-zone crisis woes. The European currency depreciated from 1.4438 to 1.4127 yesterday, not matching the positive Interbank sentiment projection at under +2%, closing the day at 1.4173. This morning the European currency is trading quietly at the lower end of yesterday's range for now. On the 1 hour chart range trading has formed, while on the 3 hour chart trading has moved into a wide range. Break above the nearest resistance and yesterday's top at 1.4438 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.4127, however, would confirm continuation of the bearish trend, towards next objective downwards 1.4017. Today's focus is on Germany Current account and Trade balance, both at 6 GMT. Quotes are moving just above the crossed 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and calm, MACD is negative and quiet, while CCI has crossed up the 100 line on the 1 hour chart, giving overall neutral to light long signals.
Technical resistance levels: 1.4438 1.4550 1.4665
Technical support levels: 1.4127 1.4017 1.3900
Trading range: 1.4250 - 1.4175
Buy at 1.4237 SL 1.4267 TP 1.4187
Yesterday we made +50 pips profit on EUR/USD from the following signal:
5:29 GMT+1 Buy EUR/USD at 1.4304 SL 1.4278 TP 1.4354, TP reached at 6:40 GMT+1.
Total yesterday +193, as shown in details at http://www.zifx.com/performance.php.