Stable EUR/USD On Berlusconi Resignation News_

By @ibtimes on

EUR/USD Open 1.3834 High 1.3859 Low 1.3724 Close 1.3831

On Tuesday Euro/Dollar increased with 120 pips on on Berlusconi resignation news. The European currency appreciated from 1.3724 to 1.3848 yesterday, matching the positive Interbank sentiment projection at over +4%, closing the day at 1.3831. This morning the Euro ascended even further, climbing up to 1.3859. On the 1 hour chart range trading has formed, while on the 3 hour chart wider range trading has emerged. Break above the nearest resistance and today's top at 1.3859 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3724, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3600. There are no major economic events for EU today. Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is positive and quiet, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall all light long signals.
Technical resistance levels: 1.3859 1.3976 1.4100
Technical support levels: 1.3724 1.3600 1.3479

Trading range: 1.3815 - 1.3885
Trend: Upward
Buy at 1.3825 SL 1.3795 TP 1.3875

Yesterday we made +25 pips profit on EUR/USD from the following sent to clients only signal:
5:23 GMT Sell EUR/USD at 1.3749 SL 1.3775 TP 1.3699, exit sent at 8:02 GMT+1.
Total yesterday +75, as shown in details at http://www.zifx.com/performance.php.

ZIFX.com

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