EUR/USD Open 1.1144 High 1.1225 Low 1.1101 Close 1.1142
On Wednesday euro/dollar decreased with 100 pips. The European currency depreciated from 1.1225 to 1.1121 yesterday, matching the negative money flow sentiment at around -8%, closing the day at 1.1142. This morning the Euro slipped further, reaching 1.1101.
On the 1 hour chart wide range trading has formed, while on the 3 hour chart the downward channel is still on hold. Break above the nearest resistance and yesterday's top at 1.1225 may trigger further strengthening of the euro. Going below today's bottom and first support at 1.1101, however, would confirm continuation of the bearish trend, towards next objective downwards 1.0990.
Quotes are moving below the close 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and declining, MACD is positive and quiet, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.1225 1.1337 1.1460
Technical support levels: 1.1101 1.0990 1.0866
Yesterday +50 pips gained on EUR/USD from the following signal:
7:30 GMT+1 Down EUR/USD at 1.1207 Limit 1.1233 Target 1.1157, Target reached at 8:44 GMT+1.
Total yesterday +183, as shown at the website.