EUR/USD Open 1.2799 High 1.2842 Low 1.2766 Close 1.2794

On Monday Euro/Dollar continued decreasing with 75 pips. The European currency depreciated from 1.2842 to 1.2766 yesterday, matching the negative money flow sentiment at under -18%, closing the day at 1.2794. 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 broke down of the trading range, 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 1.2842 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.2766, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2652.

Today's focus is on Italy, France, Germany and EU17 PMI, EU17 PPI, Germany Manufacturing orders, and US Redbook, at 8:45, 8:50, 8:55. 9, 10 and 11 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 negative and calm, MACD is negative and declining, while CCI has crossed down the 100 line on the 1 hour chart, giving over all short signals.
Technical resistance levels: 1.2842 1.2955 1.3080
Technical support levels: 1.2766 1.2652 1.2530

Yesterday we made +50 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:16 GMT Sell EUR/USD at 1.2829 SL 1.2855 TP 1.2779, TP reached at 8:28 GMT.
Total yesterday +157, as shown at our web site.

 

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