EUR/USD Open 1.0833 High 1.0907 Low 1.0783 Close 1.0848
On Monday Euro/Dollar increased with 85 pips. The European currency appreciated from 1.0821 to 1.0907 yesterday, not matching the negative money flow sentiment at nearly -8%, closing the day at 1.0848. This morning the Euro slid down, reaching 1.0783.
On the 1 hour chart the downward channel has extended, while on the 3 hour chart the downward channel has renewed. Break above the nearest resistance and yesterday's top at 1.0907 may trigger further strengthening of the Euro. Going below today's bottom and first support at 1.0783, however, would confirm continuation of the bearish trend, towards next objective downwards 1.0670.
Quotes are moving below the parallel 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: 1.0907 1.1020 1.1143
Technical support levels: 1.0783 1.0670 1.0547
Yesterday +46 pips gained on EUR/USD from the following signal:
7:24 GMT Up EUR/USD at 1.0861 Limit 1.0835 Target 1.0911, exit given at 10:11 GMT.
Total yesterday +89, as shown at the website.