On Tuesday, the EUR/USD traded within 65 pip range. The European currency appreciated from 1.3067 to 1.3132 yesterday, matching the positive money flow sentiment at around +16%, closing the day at 1.3077. The Euro is trading quietly this morning, with movements at the lower half 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. Breaking above the nearest resistance and yesterday's top at 1.3132 may trigger further strengthening of the Euro. Going below yesterday's bottom and first support at 1.3067, however, would confirm continuation of the bearish trend, towards the next objective downwards of 1.2955.
Today's focus is on Germany Industrial production at 10 GMT.
Quotes are moving just above the 20 and in line with the 50 EMA on the 1 hour chart, indicating short term slim bullish and medium term neutral pressure. The value of the RSI indicator is neutral and calm.The MACD is negative and quiet, while the CCI has crossed up the 100 line on the 1 hour chart, giving overall neutral signals.
Technical resistance levels: 1.3132 1.3248 1.3370
Technical support levels: 1.3067 1.2955 1.2830
Yesterday we made +15 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT+1 Sell EUR/USD at 1.3082 SL 1.3108 TP 1.3032, exit sent at 7:52 GMT+1.
Total yesterday +114, as shown at our web site.
EUR/USD Chart" title="EUR/USD Chart">