EUR/USD Open 1.2727 High 1.2784 Low 1.2702 Close 1.2732

On Wednesday Euro/Dollar increased with 00 pips. The European currency appreciated from 1.2702 to 1.2784 yesterday, matching the positive money flow sentiment at over +11%, closing the day at 1.2732. This morning the Euro is trading quietly, with movements within yesterday's range for now.

On the 1 hour chart the downward channel looks good, while on the 3 hour chart the upward channel has turned into range trading. Break above the nearest resistance and yesterday's top at 1.2784 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.2702, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2590.

Today's focus is on France, Germany, Italy and EU17 GDP, EU17 Harmonized CPI, US Jobless claims, NY Fed Empire State manufacturing index, CPI, Philadelphia Fed index, Fed Chairman Ben Bernanke Speaks, and M2 money supply, at 6:30, 7, 10, 13:30, 15, 17:20 and 21:30 GMT respectively.

Quotes are moving just above the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term slim bullish and medium term bearish pressure. The value of the RSI indicator is positive and calm, MACD is negative and quiet, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.2784 1.2900 1.3024
Technical support levels: 1.2702 1.2590 1.2464

Yesterday we made +19 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT Sell EUR/USD at 1.2723 SL 1.2749 TP 1.2673, exit sent at 7:22 GMT.
Total yesterday +129, as shown at our web site.

 

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