Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

EUR/USD Stabilizes Just Below 1.38

Published 10/24/2013, 12:32 AM
Updated 07/09/2023, 06:32 AM

EUR/USD

Open 1.3774

High 1.3793

Low 1.3740

Close 1.3773

On Wednesday EUR/USD traded within narrow 50 pip range. The European currency depreciated from 1.3793 to 1.3740 yesterday, not matching the positive money flow sentiment at nearly +17%, closing the day at 1.3773. This morning the euro is trading quietly, with movements at the upper end of yesterday's range for now.

On the 1 hour chart the upward channel has resumed, while on the 3 hour chart the upward channel looks good. Break above the nearest resistance and yesterday's top at 1.3793 may trigger further strengthening of the euro. Going below yesterday's bottom and first support at 1.3740, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3626.

Today's focus is on France, Germany and EMU PMI, Italy Consumer confidence, and U.S. Jobless claims, New home sales, at 7, 7:30, 8, 12:30, and 14 GMT respectively.

Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and quiet too, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.

Technical resistance levels: 1.3793 1.3905 1.4030

Technical support levels: 1.3740 1.3626 1.3500

Yesterday we made +15 pips profit/loss on EUR/USD from the following sent to clients only signal:
8:41 GMT+1 Sell EUR/USD at 1.3755 SL 1.3781 TP 1.3705, exit sent at 12:03 GMT+1.

Total yesterday +124.


<span class=EUR/USD Hour Chart" title="EUR/USD Hour Chart" width="640" height="540" />

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.