Open 1.3787
High 1.3818
Low 1.3768
Close 1.3784
On Monday EUR/USD traded within narrow 50 pip range. The European currency depreciated from 1.3818 to 1.3774 yesterday, matching the negative money flow sentiment at under -16%, closing the day at 1.3784. This morning the euro descended slightly further, reaching 1.3768.
On the 1 hour chart the upward channel has slowed down, while on the 3 hour chart the upward channel looks good. Break above the nearest resistance and yesterday's top at 1.3818 may trigger further strengthening of the euro. Going below today's bottom and first support at 1.3768, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3654.
Today's focus is on France Consumer confidence, U.S. PPI, Retail sales, Redbook, Consumer confidence, and Business inventories, at 7:45, 12:30, 12:55, and 14 GMT respectively.
Quotes are moving below the crossing and close the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and calm, the MACD is positive and quiet, while the CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.3818 1.3930 1.4055
Technical support levels: 1.3768 1.3654 1.3530
Yesterday we made +19 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT Sell EUR/USD at 1.3801 SL 1.3827 TP 1.3751, exit sent at 12:21 GMT.
Total yesterday +73.
EUR/USD Hour Chart" title="EUR/USD Hour Chart" width="640" height="540">