EUR/USD
Open 1.3614
High 1.3657
Low 1.3595
Close 1.3606
On Tuesday EUR/USD traded within 60 pip range. The European currency depreciated from 1.3657 to 1.3595 yesterday, matching the negative money flow sentiment at below -12%, closing the day at 1.3606. This morning the Euro is trading quietly, with movements within yesterday's range for now.
On the 1 hour chart the upward channel has turned into range trading, while on the 3 hour chart trading is in wide scope. Break above the nearest resistance and yesterday's top at 1.3657 may trigger further strengthening of the Euro. Going below yesterday's bottom and first support at 1.3595, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3480.
Today's focus is on Germany Current account and Trade balance, EMU Retail sales and Unemployment, Germany Factory orders, and U.S. ADP employment, FOMC minutes, and Consumer credit, at 7, 10, 11, 13:15, 19, and 20 GMT respectively.
Quotes are moving just above the close 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is negative and quiet, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.3657 1.3770 1.3893
Technical support levels: 1.3595 1.3480 1.3356
Yesterday we made +11 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT Sell EUR/USD at 1.3623 SL 1.3649 TP 1.3573, exit sent at 6:21 GMT.
Total yesterday +82, as shown at our web site.
EUR/USD Hour Chart" title="EUR/USD Hour Chart" width="452" height="381">