EUR/USD Open 1.2765 High 1.2877 Low 1.2736 Close 1.2768

On Wednesday Euro/Dollar decreased with 150 pips after initial rise. The European currency depreciated from 1.2877 to 1.2736 yesterday, matching the negative money flow sentiment at almost -21%, closing the day at 1.2768. This morning the Euro is trading quietly, with movements at the lower end of yesterday's range for now.

On the 1 hour chart new downward channel is forming, while on the 3 hour chart the upward channel is turning into wide range trading. Break above the nearest resistance and yesterday's top at 1.2877 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.2736, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2624.

Today's focus is on Germany Current account and Trade balance, EU17 ECB meeting announcement and press conference, US Jobless claims, International trade, Export, Import, and M2 money supply at 7, 12:45, 13:30, and 21:30 GMT respectively.

Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is positive and calm, MACD is negative and quiet, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.2877 1.2990 1.3112
Technical support levels: 1.2736 1.2624 1.2500

Yesterday we made +50 pips profit/loss on EUR/USD from the following sent to clients only signal:
9:26 GMT Sell EUR/USD at 1.2837 SL 1.2863 TP 1.2787, exit sent at 12:15 GMT.
Total yesterday +110, as shown at our web site.

 

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