EUR/USD Open 1.3816 High 1.3852 Low 1.3803 Close 1.3814
On Wednesday EUR/USD continued trading within 50 pip range. The European currency depreciated from 1.3852 to 1.3803 yesterday, not matching the positive money flow sentiment at above +6%, closing the day at 1.3814. This morning the Euro is trading quietly, with movements at the lower end of yesterday's range for now.
On the 1 hour chart range trading has formed, while on the 3 hour chart the upward channel has turned into range trading. Break above the nearest resistance and yesterday's top at 1.3852 may trigger further strengthening of the Euro. Going below yesterday's bottom and first support at 1.3803, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3690.
Today's focus is on Germany PPI, EMU Current account, and U.S. Jobless claims, and Philadelphia Fed index, at 6, 8, 12:30, and 14 GMT respectively.
Quotes are moving above the almost even 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and hesitant, MACD is thinly negative and quiet, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.3852 1.3965 1.4090
Technical support levels: 1.3803 1.3690 1.3564
Yesterday we made +9 pips profit/loss on EUR/USD from the following sent to clients only signal:
8:58 GMT+1 Buy EUR/USD at 1.3843 SL 1.3817 TP 1.3893, exit sent at 9:53 GMT+1.
Total yesterday +97, as shown at our web site.