Open 1.3722
High 1.3789
Low 1.3695
Close 1.3730
On Wednesday the EUR/USD decreased with 90 pips. The European currency depreciated from 1.3789 to 1.3695 yesterday, matching the negative money flow sentiment at almost -20%, closing the day at 1.3730. This morning the euro is trading quietly, with movements at the lower end of yesterday's range for now.
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 yesterday's bottom and first support at 1.3695, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3580.
Today's focus is on Germany's Import prices, Gfk Consumer confidence and Retail sales, France Consumer spending and PPI, EMU CPI and Unemployment, Italy CPI, HICP and PPI, and U.S. Jobless claims and Chicago PMI, at 7, 7:45, 10, 11, 12:15, 12:30, and 13:45 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 short signals.
Technical resistance levels: 1.3789 1.3900 1.4026
Technical support levels: 1.3695 1.3580 1.3456
Yesterday we made +38 pips profit/loss on EUR/USD from the following sent to clients only signal:
8:59 GMT Sell EUR/USD at 1.3767 SL 1.3793 TP 1.3717, exit sent at 18:03 GMT.
Total yesterday +108.
EUR/USD Hour Chart" title="EUR/USD Hour Chart" width="640" height="540">