EUR/USD Open 1.3338 High 1.3384 Low 1.3259 Close 1.3341
On Wednesday Euro/Dollar increased with 125 pips. The European currency appreciated from 1.3259 to 1.3384 yesterday, not matching the negative Interbank sentiment projection at almost -1%, closing the day at 1.3341. This morning the Euro is trading quietly, with movements within yesterday's range for now. On the 1 hour chart quotes are testing the upper limit of the downward channel, while on the 3 hour chart the downward channel looks good. Break above the nearest resistance and yesterday's top at 1.3384 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3259, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3144. Today's focus is on Germany Manufacturing orders, and EU17 ECB meeting announcement and press conference, at 10, 11:45 and 12:30 GMT respectively. Quotes are moving in line with the 20 and above the 50 EMA on the 1 hour chart, indicating short term neutral and medium term bullish pressure. The value of the RSI indicator is positive and calm, MACD is thinly positive and quiet too, while CCI is in line with the 100 line on the 1 hour chart, giving overall neutral to light long signals.
Technical resistance levels: 1.3384 1.3500 1.3622
Technical support levels: 1.3259 1.3144 1.3026
Trading range: 1.3345 - 1.3270
Sell at 1.3333 SL 1.3363 TP 1.3283
Yesterday we made +31 pips profit on EUR/USD from the following sent to clients only signal:
6:07 GMT+1 Sell EUR/USD at 1.3315 SL 1.3341 TP 1.3265, exit sent at 9:21 GMT+1.
Total yesterday +76, as shown in details at http://www.zifx.com/performance.php.