EUR/USD Open 1.2936 High 1.3023 Low 1.2926 Close 1.2932

On Thursday Euro/Dollar decreased with almost 100 pips. The European currency depreciated from 1.3023 to 1.2926 yesterday, matching the negative money flow sentiment at bellow -17%, closing the day at 1.2932. This morning the Euro is trading quietly, with movements at the lower end of yesterday's range for now.

On the 1 hour chart range trading has formed, while on the 3 hour chart the upward channel is still on hold. Break above the nearest resistance and yesterday's top at 1.3023 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3023, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2812.

Today's focus is on Germany Import prices and GfK Consumer Confidence Survey, Italy Business confidence, and US GDP Q3, PCE price index, and Michigan sentiment index, at 6, 8, 12:30 and 13:55 GMT respectively.

Quotes are moving just bellow the twisted and close 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is thinly positive and calm, MACD is positive and declining, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.3023 1.3140 1.3264
Technical support levels: 1.2926 1.2812 1.2690

Yesterday we made +50 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT+1 Buy EUR/USD at 1.2970 SL 1.2944 TP 1.3020, TP reached at 9:18 GMT+1.
Total yesterday +170, as shown at our web site.

 

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