EUR/USD Open 1.2740 High 1.2791 Low 1.2716 Close 1.2745

On Thursday Euro/Dollar decreased insignificantly with 60 pips. The European currency depreciated from 1.2777 to 1.2716 yesterday, matching the negative money flow sentiment at around -17%, closing the day at 1.2745. This morning the Euro bounced up, climbing to 1.2791.

On the 1 hour chart new downward channel has formed, while on the 3 hour chart the upward channel is turning into wide range trading. Break above the nearest resistance and today's top at 1.2791 may trigger further strengthening of the Euro.
Going bellow yesterday's bottom and first support at 1.2716, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2600.

Today's focus is on Germany Wholesale prices, CPI and HICP, France and Italy Industrial production, US Import and Export prices, Michigan sentiment index, and Wholesale inventories, at 7, 7:45, 9, 13:30, 14:55 and 15 GMT respectively.

Quotes are moving just bellow the 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is positive and calm, MACD is negative and quiet, while CCI is about to cross up the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.2791 1.2900 1.3021
Technical support levels: 1.2716 1.2600 1.2486

Yesterday we made +36 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:19 GMT Sell EUR/USD at 1.2755 SL 1.2781 TP 1.2705, exit sent at 10:21 GMT.
Total yesterday +119, as shown at our web site.

 

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