Open 1.3480
High 1.3500
Low 1.3389
Close 1.3468
On Wednesday EUR/USD increased with 110 pips. The European currency appreciated from 1.3389 to 1.3500 yesterday, matching the positive money flow sentiment at over +21%, closing the day at 1.3468. This morning the euro is trading quietly, with movements at the upper half of yesterday's range for now.
On the 1 hour chart quotes broke down of the trading range, while on the 3 hour chart the upward channel is turning into range trading. Break above the nearest resistance and yesterday's top at 1.3500 may trigger further strengthening of the euro. Going below yesterday's bottom and first support at 1.3389, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3275.
Today's focus is on France and Germany GDP, France CPI and HICP, Italy and EMU GDP, and U.S. Initial jobless claims, Trade balance, Nonfarm productivity, Productivity, Unit labour cost, and M2 money supply, at 6:30, 7, 7:45, 9, 10, 13:30, and 21:30 GMT respectively.
Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and inclining upwards, while CCI is in line with the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.3500 1.3614 1.3740
Technical support levels: 1.3389 1.3275 1.3150
Yesterday we made +12 pips profit/loss on EUR/USD from the following sent to clients only signal:
9:45 GMT Sell EUR/USD at 1.3420 SL 1.3446 TP 1.3370, exit sent at 10:32 GMT.
Total yesterday +72.
EUR/USD Hour Chart" title="EUR/USD Hour Chart" width="640" height="540">