EUR/USD Open 1.3680 High 1.3812 Low 1.3648 Close 1.3681
On Wednesday Euro/Dollar decreased with 145 pips. The European currency depreciated from 1.3812 to 1.3667 yesterday, matching the negative money flow sentiment at under -22%, closing the day at 1.3681. This morning the Euro weakened even further, reaching 1.3648.
On the 1 hour chart the upward channel is on hold, while on the 3 hour chart the upward channel is turning into range trading. Break above the nearest resistance and yesterday's top at 1.3812 may trigger further strengthening of the Euro. Going below today's bottom and first support at 1.3648, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3535.
Today's focus is on EMU Current account, and U.S. Jobless claims, Existing home sales, Philadelphia Fed index and CB Leading indicator, at 9, 9:30, 13:30, and 15 GMT respectively.
Quotes are moving way below the 20 and 50 EMA on the 1 hour chart, indicating strong bearish pressure. The value of the RSI indicator is negative and calm, MACD is thinly negative and declining, while CCI has crossed down the 100 line on the 1 hour chart, giving over all short signals.
Technical resistance levels: 1.3812 1.3925 1.4050
Technical support levels: 1.3648 1.3535 1.3410
Yesterday we made +5 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT Buy EUR/USD at 1.3773 SL 1.3747 TP 1.3823, exit sent at 7:25 GMT.
Total yesterday +84, as shown at our web site.
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