On Wednesday Euro/Dollar decreased with 105 pips. The European currency depreciated from 1.3597 to 1.3492 yesterday, not matching the positive money flow sentiment at almost +14%, closing the day at 1.3519. 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 upward channel is on hold, while on the 3 hour chart the upward channel has slowed down. Break above the nearest resistance and yesterday's top at 1.3597 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3492, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3380.
Today's focus is on Germany Industrial production, ECB meeting announcement and press conference, US Jobless claims, Productivity Q4, Unit labour cost, Consumer credit, and M2 money supply, at 11, 12:45, 13:30, 20 and 21:30 GMT respectively.
Quotes are moving just bellow the 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and calm, MACD is positive and quiet, while CCI has thinly crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.3597 1.3710 1.3834
Technical support levels: 1.3492 1.3380 1.3255
Yesterday we made +50 pips profit/loss on EUR/USD from the following sent to clients only signal:
7:32 GMT Sell EUR/USD at 1.3553 SL 1.3579 TP 1.3503, TP reached at 13:04 GMT.
Total yesterday +143, as shown at our web site.
EUR/USD Chart" title="EUR/USD Chart">
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EUR/USD Quiet Ahead Of ECB Meeting
Published 02/07/2013, 12:37 AM
Updated 01/01/2017, 02:20 AM
EUR/USD Quiet Ahead Of ECB Meeting
EUR/USD Open 1.3520 High 1.3597 Low 1.3492 Close 1.3519
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