Open 1.3590
High 1.3614
Low 1.3523
Close 1.3578
On Tuesday the EUR/USD increased with 90 pips. The European currency appreciated from 1.3523 to 1.3614 yesterday, matching the positive money flow sentiment at over +12%, closing the day at 1.3578. This morning the euro is trading quietly, with movements at the upper end of yesterday's range for now.
On the 1 hour chart quotes are back into the trading range, while on the 3 hour chart the upward channel is losing shape. Break above the nearest resistance and yesterday's top at 1.3614 may trigger further strengthening of the euro. Going below yesterday's bottom and first support at 1.3523, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3410.
Today's focus is on Italy, France, Germany and EMU PMI, EMU GDP Q3 and Retail sales, and U.S. ADP employment, Trade balance, ISM Non manufacturing PMI, and New home sales, at 8:45, 8:50, 8:55, 9, 10, 12:15, 13:30, and 15 GMT respectively.
Quotes are moving above the crossing 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and calm, MACD is neutral and inclining upwards, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.3614 1.3730 1.3855
Technical support levels: 1.3523 1.3410 1.3287
Yesterday we made +31 pips profit/loss on EUR/USD from the following sent to clients only signal:
8:45 GMT Buy EUR/USD at 1.3563 SL 1.3537 TP 1.3613, exit sent at 13:18 GMT.
Total yesterday +102.
EUR/USD Hour Chart" title="EUR/USD Hour Chart" width="640" height="540">