EUR/USD Open 1.3815 High 1.3886 Low 1.3807 Close 1.3818
On Monday EUR/USD decreased with 80 pips. The European currency depreciated from 1.3886 to 1.3807 yesterday, matching the negative money flow sentiment at below -14%, closing the day at 1.3818. 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 1.3886 may trigger further strengthening of the Euro. Going below yesterday's bottom and first support at 1.3807, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3694.
Today's focus is on Germany ZEW economic index, EMU Trade balance, and U.S. CPI, NY Fed Empire State manufacturing index, Redbook, and TICS net flows, at 9, 12:30, 12:55, and 13 GMT respectively.
Quotes are moving below the crossing (direction change) 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and calm, MACD is thinly positive and declining, while CCI has crossed down the 100 line on the 1 hour chart, giving over all short signals.
Technical resistance levels: 1.3886 1.4000 1.4122
Technical support levels: 1.3807 1.3694 1.3570
Yesterday we made +43 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT+1 Sell EUR/USD at 1.3854 SL 1.3880 TP 1.3804, exit sent at 13:31 GMT+1.
Total yesterday +116, as shown at our web site.