EUR/USD Open 1.0739 High 1.0848 Low 1.0711 Close 1.0730
On Tuesday Euro/Dollar decreased with 135 pips. The European currency depreciated from 1.0848 to 1.0711 yesterday, matching the negative money flow sentiment at almost -9%, closing the day at 1.0730. This morning the Euro is trading quietly against the Dollar, with movements within yesterday's range for now.
On the 1 hour chart the new upward channel is turning into scope trading, while on the 3 hour chart the downward channel is making renewal attempts. Break above the nearest resistance and yesterday's top at 1.0848 may trigger further strengthening of the Euro. Going below today's bottom and first support at 1.0711, however, would confirm continuation of the bearish trend, towards next objective downwards 1.0670.
Quotes are moving above the 20 and in line with the 50 EMA on the 1 hour chart, indicating short term bullish and medium term neutral pressure. The value of the RSI indicator is positive and inclining upwards, MACD is 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: 1.0848 1.1010 1.1134
Technical support levels: 1.0711 1.0670 1.0548
Yesterday +50 pips gained on EUR/USD from the following signal:
5:30 GMT+1 Down EUR/USD at 1.0793 Limit 1.0819 Target 1.0743, Target reached at 9:10 GMT+1.
Total yesterday +135, as shown at the website.