On Monday, the EUR/USD traded within the 85 pip range. The European currency appreciated from 1.3057 to 1.3144 on Monday, not matching the negative money flow sentiment at around -18% and closing the day at 1.3113. The euro is trading quietly this morning, with movements at the upper half of yesterday's range for now.
The upward channel is turning into range trading On the 1 hour chart , while wide trading scope has formed on the 3 hour chart. A break above the nearest resistance and yesterday's top at 1.3144 may trigger further strengthening of the euro. Going below yesterday's bottom and first support at 1.3057, however, would confirm continuation of the bearish trend towards the next objective downwards of 1.2943.
Today's data focus is on France Business climate, U.S. Durable goods orders, Redbook, Consumer confidence and New home sales, at 6:45, 12:30, 12:55 and 14 GMT respectively.
Quotes are moving just below the 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is negative and calm. The MACD is negative and quiet too, while CCI is in line with the 100 line on the 1 hour chart, giving overall light short signals.
Technical resistance levels: 1.3144 1.3260 1.3382
Technical support levels: 1.3057 1.2943 1.2820
Yesterday we made +21 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT+1 Sell EUR/USD at 1.3098 SL 1.3124 TP 1.3048, exit sent at 8:05 GMT+1.
Total yesterday +77, as shown at our web site.
EUR/USD Chart" title="EUR/USD Chart">