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EUR/USD Rallies To 1.32 On Bernanke Wrong Foot

ByZIFX.com
Published 07/11/2013, 12:33 AM
Updated 01/01/2017, 02:20 AM
EUR/USD Open 1.3170 High 1.3210 Low 1.2763 Close 1.2958

On Wednesday Euro/Dollar increased significantly with 245 pips on Bernanke dovish comments. The European currency appreciated from 1.2763 to 1.3210 yesterday, matching the positive money flow sentiment at below -24%, closing the day at 1.2958. 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 renewed, while on the 3 hour chart quotes are testing the lower limit of the wide trading range. Break above the nearest resistance and yesterday's top at 1.3210 may trigger further strengthening of the Euro. Going below yesterday's bottom and first support at 1.2763, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2640.

Today's focus is on Germany Wholesale prices, France CPI, and U.S. Jobless claims, Import and Export prices, and Federal budget, at 6, 6:45, 12:30, and 18 GMT.

Quotes are moving way above the 20 and 50 EMA on the 1 hour chart, indicating strong bullish pressure. The value of the RSI indicator is positive and calm, MACD is positive and qrising, while CCI has crossed up the 100 line on the 1 hour chart, giving over all long signals.
Technical resistance levels: 1.3210 1.3010 1.3133
Technical support levels: 1.2763 1.2640 1.2516

Yesterday we made +9 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT+1 Sell EUR/USD at 1.2782 SL 1.2808 TP 1.2732, exit sent at 6:08 GMT+1.
Total yesterday +89, as shown at our web site.


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