On Thursday Euro/Dollar traded within wider 160 pip range. The European currency appreciated from 1.3204 to 1.3364 yesterday, matching the positive money flow sentiment at above +19%, closing the day at 1.3344. 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 is turning into range trading, while on the 3 hour chart quotes are moving within wide trading scope. Break above the nearest resistance and yesterday's top at 1.3364 may trigger further strengthening of the Euro. Going below yesterday's bottom and first support at 1.3204, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3090.
Today's focus is on EMU Current account, Trade balance, and U.S. Housing starts, Building permits, Nonfarm Productivity, Unit labour cost, and Michigan sentiment index, at 8, 9, 12:30, and 13:55 GMT respectively.
Quotes are moving above the twisted 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and calm, MACD is neutral and inclining upwards, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.3364 1.3480 1.3600
Technical support levels: 1.3204 1.3090 1.2968
Yesterday we made +11 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT+1 Buy EUR/USD at 1.3289 SL 1.3263 TP 1.3339, exit sent at 12:59 GMT+1.
Total yesterday +88, as shown at our web site.
EUR/USD Chart" title="EUR/USD Chart">
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EUR/USD Swings As Data Gives Mixed Signals
Published 08/16/2013, 12:37 AM
Updated 07/09/2023, 06:32 AM
EUR/USD Swings As Data Gives Mixed Signals
EUR/USD Open 1.3346 High 1.3364 Low 1.3204 Close 1.3344
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