On Thursday Euro/Dollar decreased with 200 pips. The European currency depreciated from 1.3210 to 1.3004 yesterday, not matching the positive money flow sentiment at almost +16%, closing the day at 1.3094. This morning the Euro is trading quietly, with movements within yesterday's range for now.
On the 1 hour chart the downward channel has turned into range trading, while on the 3 hour chart quotes have returned into 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 1.3004, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2890.
Today's focus is on Italy CPI and HICP, EMU Industrial production, and U.S. PPI and Michigan sentiment index, at 8, 9, 12:30, and 13:55 GMT.
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 qrising, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.3210 1.3322 1.3448
Technical support levels: 1.3004 1.2890 1.2768
Yesterday we made +11 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT+1 Buy EUR/USD at 1.3136 SL 1.3110 TP 1.3186, exit sent at 6:07 GMT+1.
Total yesterday +113, as shown at our web site.
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EUR/USD Remains Firm Around 1.31
Published 07/12/2013, 12:41 AM
Updated 01/01/2017, 02:20 AM
EUR/USD Remains Firm Around 1.31
ZIFX.com
EUR/USD Open 1.3096 High 1.3210 Low 1.3004 Close 1.3094
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