EUR/USD Open 1.4062 High 1.4210 Low 1.4054 Close 1.4095
On Monday Euro/Dollar continued decreasing significantly with 150 pips. The European currency depreciated from 1.4210 to 1.4058 yesterday, matching the negative Interbank sentiment projection at under -6%, closing the day at 1.4095. This morning the Euro descended further against the Dollar, dropping down to 1.4054. On the 1 hour chart the downward channel looks good, while on the 3 hour new downward channel has emerged. Break above the nearest resistance and yesterday's top at 1.4210 may trigger further strengthening of the Euro. Going bellow today's bottom and first support at 1.4054, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3933. Today's focus is on EU17 GDP Q2 and Germany Manufacturing orders, at 9 and 10 GMT respectively. Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and calm, MACD is negative and quiet too, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.4210 1.4323 1.4440
Technical support levels: 1.4054 1.3933 1.3816
Trading range: 1.4075 - 1.4000
Sell at 1.4062 SL 1.4092 TP 1.4012
Yesterday we made +49 pips profit on EUR/USD from the following sent to clients only signal:
5:28 GMT+1 Sell EUR/USD at 1.4164 SL 1.4190 TP 1.4114, exit sent at 8:09 GMT+1.
Total yesterday +168, as shown in details at http://www.zifx.com/performance.php.