EUR/USD Open 1.2963 High 1.2997 Low 1.2919 Close 1.2972

On Wednesday Euro/Dollar continued decreasing with almost 80 pips. The European currency depreciated from 1.2997 to 1.2919 yesterday, matching the negative money flow sentiment at nearly -14%, closing the day at 1.2972. This morning the Euro is trading slightly up, with movements at the upper end of yesterday's range for now.

On the 1 hour chart small angle wide upward channel is forming, while on the 3 hour chart range trading is emerging. Break above the nearest resistance and yesterday's top at 1.2997 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.2919, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2800.

Today's focus is on EU17 M3 money supply, Italy Retail sales, US Jobless claims, Durable goods orders, and M2 money supply, at 8, 12:30 and 20:30 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 negative and calm, MACD is positive and quiet, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all neutral to light short signals.
Technical resistance levels: 1.2997 1.3110 1.3236
Technical support levels: 1.2919 1.2800 1.2676

Yesterday we made +50 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:16 GMT+1 Sell EUR/USD at 1.2990 SL 1.3016 TP 1.2940, TP reached at 9:01 GMT+1.
Total yesterday +132, as shown at our web site.
 

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