EUR/USD Open 1.4082 High 1.4150 Low 1.3999 Close 1.4096
On Wednesday Euro/Dollar increased significantly with 150 pips. The European currency appreciated from 1.3999 to 1.4150 yesterday, not matching the negative Interbank sentiment projection at nearly -1%, closing the day at 1.4096. This morning the Euro is trading quietly against the Dollar, and within yesterday's range for now. On the 1 hour chart the downward channel has slowed down, while on the 3 hour new downward channel has emerged. Break above the nearest resistance and yesterday's top at 1.4150 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3999, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3886. Today's focus is on Germany Current account and Trade balance, and EU17 ECB meeting announcement and press conference, at 6, 11:45 and 12:30 GMT respectively. Quotes are moving in line with the even 20 and 50 EMA on the 1 hour chart, indicating neutral market. The value of the RSI indicator is positive and inclining upwards, MACD is neutral and quiet, while CCI has crossed down the 100 line on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 1.4150 1.4268 1.4385
Technical support levels: 1.3999 1.3886 1.3758
Trading range: 1.4080 - 1.4005
Sell at 1.4068 SL 1.4098 TP 1.4018
Yesterday we made +50 pips profit on EUR/USD from the following sent to clients only signal:
7:25 GMT+1 Buy EUR/USD at 1.4071 SL 1.4045 TP 1.4121, TP reached at 9:10 GMT+1.
Total yesterday +122, as shown in details at http://www.zifx.com/performance.php.