Open 1.3742
High 1.3814
Low 1.3732
Close 1.3743
On Tuesday EUR/USD decreased with 90 pips. The European currency depreciated from 1.3814 to 1.3735 yesterday, matching the negative money flow sentiment at almost -20%, closing the day at 1.3743. This morning the euro descended slightly further, reaching 1.3732.
On the 1 hour chart the upward channel is on hold, while on the 3 hour chart the upward channel has slowed down. Break above the nearest resistance and yesterday's top at 1.3814 may trigger further strengthening of the euro. Going below today's bottom and first support at 1.3732, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3620.
Today's focus is on Germany Unemployment, EMU Economic index and Business climate, U.S. ADP employment and CPI, Germany CPI and HICP, and U.S. Fed Interest rate decision, at 8:55, 10, 12:15, 12:30, 13, and 18 GMT respectively.
Quotes are moving below the 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 quiet too, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.3814 1.3930 1.4055
Technical support levels: 1.3732 1.3620 1.3500
Yesterday we made +24 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT Sell EUR/USD at 1.3777 SL 1.3803 TP 1.3727, exit sent at 9:34 GMT.
Total yesterday +140.
EUR/USD Hour Chart" title="EUR/USD Hour Chart" width="640" height="540">