🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

EUR/USD Drops From 1.3428 To 1.3340

Published 08/22/2013, 01:15 AM
Updated 07/09/2023, 06:32 AM
EUR/USD
-
EUR/USD

Open 1.3344
High 1.3428
Low 1.3330
Close 1.3350

On Wednesday EUR/USD decreased with almost 90 pips. The european currency depreciated from 1.3428 to 1.3340 yesterday, matching the negative money flow sentiment at below -11%, and closing the day at 1.3350. This morning the euro weakened further reaching 1.3330.

On the 1 hour chart the upward channel has slowed down, while on the 3 hour chart quotes returned to the wide trading scope. Break above the nearest resistance and yesterday's top at 1.3428 may trigger further strengthening of the euro. Going below today's bottom and first support at 1.3330, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3216.

Today's focus is on France, German, EMU PMI, and the U.S. Initial jobless claims and Leading indicators, at 6:58, 7:28, 7:58, 12:30 and 14 GMT respectively.

Quotes are moving bellow the crossing 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and calm, MACD is positive and quiet, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.

Technical resistance levels: 1.3428 1.3540 1.3664

Technical support levels: 1.3330 1.3216 1.3090

Yesterday +3 pips profit/loss on EUR/USD sent such signals to clients:

5:15 GMT+1 Buy EUR/USD at 1.3421 SL 1.3395 TP 1.3471, exit sent at 5:15 GMT+1.

Total yesterday +86.


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

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.