On Wednesday EUR/USD traded within narrow 45 pip range. The European currency depreciated from 1.3283 to 1.3238 yesterday, matching the negative money flow sentiment at around -11%, closing the day at 1.3253. This morning the Euro lifted on Fed stimulus uncertainty, reaching 1.3312.
On the 1 hour chart the upward channel is still on hold, while on the 3 hour chart quotes are moving within wide trading scope. Break above the nearest resistance and today's top at 1.3312 may trigger further strengthening of the Euro. Going below yesterday's bottom and first support at 1.3238, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3123.
Today's focus is on U.S. Jobless claims, CPI, NY Fed Empire State manufacturing index, TICS net, Industrial production, Capacity utilization, and Philadelphia index, at 12:30, 13, 13:15, and 14 GMT respectively.
Quotes are moving above the 20 and 50 EMA on the 1 hour chart, indicating bullish pressure. The value of the RSI indicator is positive and inclining upwards, MACD is negative and quiet, while CCI has crossed up the 100 line on the 1 hour chart, giving over all light long signals.
Technical resistance levels: 1.3312 1.3430 1.3553
Technical support levels: 1.3238 1.3123 1.3000
Yesterday we made +25 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT+1 Sell EUR/USD at 1.3267 SL 1.3293 TP 1.3217, exit sent at 10:25 GMT+1.
Total yesterday +154, as shown at our web site.
EUR/USD Chart" title="EUR/USD Chart">