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EUR/USD Corrects On Good US Jobs Numbers

Published 04/26/2013, 12:36 AM
Updated 01/01/2017, 02:20 AM
EUR/USD
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TTEF
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SCOP
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EUR/USD Open 1.3005 High 1.3093 Low 1.2988 Close 1.3008

On Thursday Euro/Dollar traded within 105 pip range. The European currency depreciated from 1.3093 to 1.2988 yesterday, not matching the positive money flow sentiment at above +17%, closing the day at 1.3008. This morning the Euro is trading quietly, with movements within yesterday's range for now.

On the 1 hour chart range trading has formed, while on the 3 hour chart the downward channel has turned into trading scope. Break above the nearest resistance and today's top at 1.3093 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.2988, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2873.

Today's focus is on France Consumer confidence, EMU M3 money supply, and U.S. GDP Q1, PCE price index, and Michigan sentiment index, at 6:45, 8, 12:30, and 13:55 GMT respectively.

Quotes are moving above the even 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and quiet too, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.3093 1.3220 1.3345
Technical support levels: 1.2988 1.2873 1.2750

Yesterday we made +50 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT+1 Buy EUR/USD at 1.3042 SL 1.3016 TP 1.3092, TP reached at 13:16 GMT+1.
Total yesterday +149, as shown at our web site.


<span class=EUR/USD Chart" title="EUR/USD Chart">

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