EUR/USD Open 1.4370 High 1.4475 Low 1.4327 Close 1.4376
On Thursday Euro/Dollar decreased with almost 150 pips ahead of today's Fed meeting. The European currency depreciated from 1.4475 to 1.4327 yesterday, not matching the positive Interbank sentiment projection at almost +2%, closing the day at 1.4376. This morning the Euro has adjusted against the Dollar, with movements within yesterday's range for now. On the 1 hour chart quotes are still testing the upper limit of the trading range, while on the 3 hour chart trading is within wider range. Break above the nearest resistance and yesterday's top at 1.4475 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.4327, however, would confirm continuation of the bearish trend, towards next objective downwards 1.4214. Today's focus is on Germany Import prices and EU17 M3 money supply, at 6 and 8 GMT respectively. Quotes are moving almost in line with the close 20 and 50 EMA on the 1 hour chart, indicating neutral market. The value of the RSI indicator is positive and rising, MACD is negative and inclining upwards, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 1.4475 1.4600 1.4722
Technical support levels: 1.4327 1.4214 1.4100
Trading range: 1.4430 - 1.4355
Sell at 1.4418 SL 1.4448 TP 1.4368
Yesterday we made +50 pips profit on EUR/USD from the following signal:
5:26 GMT+1 Buy EUR/USD at 1.4410 SL 1.4384 TP 1.4460, TP reached at 8:15 GMT+1.
Total yesterday +121, as shown in details at http://www.zifx.com/performance.php.