EUR/USD
Open 1.3701
High 1.3725
Low 1.3689
Close 1.3704
On Monday the EUR/USD increased slightly with 35 pips. The European currency appreciated from 1.3689 to 1.3725 yesterday, not matching the positive money flow sentiment at almost +7%, closing the day at 1.3704. This morning the euro is trading quietly, with movements at the lower end of yesterday's range for now.
On the 1 hour chart the downward channel has turned into range trading, while on the 3 hour chart trading is within wide range. Break above the nearest resistance and yesterday's top at 1.3725 may trigger further strengthening of the euro. Going below yesterday's bottom and first support at 1.3689, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3576.
Today's focus is on EMU Current account December, Germany ZEW economic sentiment, U.S. NY Fed Empire State manufacturing index, Redbook, and Net TIC flows, at 9, 10, 13:30, 13:55, 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 quiet too, while CCI has crossed up the 100 line on the 1 hour chart, giving over all long signals.
Technical resistance levels: 1.3725 1.3840 1.3964
Technical support levels: 1.3689 1.3576 1.3450
Yesterday we made +7 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:20 GMT Buy EUR/USD at 1.3709 SL 1.3683 TP 1.3759, exit sent at 6:21 GMT.
Total yesterday +84, as shown at our web site.
EUR/USD Hour Chart" title="EUR/USD Hour Chart" width="452" height="381">