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EUR/USD Softens As Ukraine Tensions Heat Up

ByZIFX com
Published 02/27/2014, 12:10 AM
Updated 07/09/2023, 06:32 AM

EUR/USD

Open 1.3680

High 1.3758

Low 1.3660

Close 1.3685

On Wednesday the EUR/USD decreased with almost 100 pips. The European currency depreciated from 1.3758 to 1.3660 yesterday, matching the negative money flow sentiment at around -15%, closing the day at 1.3685. This morning the euro is trading quietly, with movements within yesterday's range for now.

On the 1 hour chart new upward channel has emerged, while on the 3 hour chart trading is within wide range. Break above the nearest resistance and yesterday's top at 1.3758 may trigger further strengthening of the euro. Going below yesterday's bottom and first support at 1.3660, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3546.

Today's focus is on Germany Import prices, France Consumer confidence, Germany Unemployment, EMU M3 money supply, Economic index and Business climate, Germany CPI and HICP, U.S. Initial jobless claims, and Durable goods orders, at 7, 7:45, 8:55, 9, 10, 13, and 13:30 GMT respectively.

Quotes are moving below 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 thinly crossed up the 100 line on the 1 hour chart, giving over all light short signals.

Technical resistance levels: 1.3758 1.3870 1.3993

Technical support levels: 1.3660 1.3546 1.3420

Yesterday we made +7 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT Buy EUR/USD at 1.3739 SL 1.3713 TP 1.3789, exit sent at 6:10 GMT.

Total yesterday +85.

<span class=EUR/USD Hour Chart" title="EUR/USD Hour Chart" width="452" height="381">

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