EUR/USD Open 1.3073 High 1.3129 Low 1.3054 Close 1.3065
On Thursday Euro/Dollar corrected downward with 75 pips. The European currency depreciated from 1.3129 to 1.3054 yesterday, not matching the positive money flow sentiment at nearly +18%, closing the day at 1.3065. This morning the Euro is trading quietly, with movements at the lower end of yesterday's range for now.
On the 1 hour chart quotes are held within the trading range, while on the 3 hour chart the upward channel is still making renewal attempts. Break above the nearest resistance and yesterday's top at 1.3129 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3054, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2940.
Today's focus is on Germany PPI, EU17 Current account, and USA Existing home sales, at 6, 8, and 14 GMT respectively.
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 calm, MACD is positive and quiet too, while CCI has crossed down the 100 line on the 1 hour chart, giving over all neutral to light long signals.
Technical resistance levels: 1.3129 1.3244 1.3370
Technical support levels: 1.3054 1.2940 1.2818
Yesterday we made +38 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT+1 Buy EUR/USD at 1.3089 SL 1.3063 TP 1.3139, exit sent at 10:26 GMT+1.
Total yesterday +138, as shown at our web site.
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