On Wednesday, the EUR/USD increased with 120 pips. The European currency appreciated from 1.3070 to 1.3194 yesterday, matching the positive money flow sentiment at above +21% and closing the day at 1.3149. The Euro is trading quietly this morning, with movements at the upper end of yesterday's range for now.
Quotes are back into the range trading on the 1 hour chart, while the downward channel has turned into wide trading scope on the 3 hour chart. A break above the nearest resistance and yesterday's top at 1.3194 may trigger further strengthening of the euro. Going below yesterday's bottom and first support at 1.3070, however, would confirm continuation of the bearish trend, towards the next objective downwards of 1.2956.
Today's data focus is on the ECB Monthly Report, U.S. Jobless claims and Wholesale inventories, at 8, 12:30 and 14 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 the CCI is in line with the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 1.3194 1.3310 1.3433
Technical support levels: 1.3070 1.2956 1.2832
Yesterday we made +4 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:14 GMT+1 Sell EUR/USD at 1.3091 SL 1.3117 TP 1.3041, exit sent at 5:18 GMT+1.
Total yesterday +51, as shown at our web site.
EUR/USD Chart" title="EUR/USD Chart">
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EUR/USD Climbs On Positive German Data
Published 05/09/2013, 12:34 AM
Updated 01/01/2017, 02:20 AM
EUR/USD Climbs On Positive German Data
EUR/USD Open 1.3158 High 1.3194 Low 1.3070 Close 1.3149
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