EUR/USD Open 1.2963 High 1.3020 Low 1.2945 Close 1.2955
On Wednesday Euro/Dollar continued increasing with almost 75 pips, than lost gains on postponed Greece bailout package. The European currency appreciated from 1.2945 to 1.3020 yesterday, matching the positive money flow sentiment at over +17%, closing the day at 1.2955. 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 1.3020 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.2945, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2832.
Today's focus is on US Jobless claims, Productivity, Unit labour cost, ISM Mfg PMI, and M2 money supply, at 12:30, 14 and 20.30 GMT respectively.
Quotes are moving just above the 20 and in line with the 50 EMA on the 1 hour chart, indicating short term slim bullish and medium term neutral pressure. The value of the RSI indicator is positive and calm, MACD is negative and quiet, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.3020 1.3134 1.3260
Technical support levels: 1.2945 1.2832 1.2710
Yesterday we made +50 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:17 GMT Buy EUR/USD at 1.2957 SL 1.2931 TP 1.3007, TP reached at 9:14 GMT.
Total yesterday +155, as shown at our web site.
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