EUR/USD Open 1.0648 High 1.0708 Low 1.0529 Close 1.0649
On Tuesday euro/dollar increased significantly with 190 pips on poor U.S. retail sales. The European currency appreciated from 1.0529 to 1.0708 yesterday, not matching the negative money flow sentiment at around -5%, closing the day at 1.0649. This morning the euro is trading quietly, with movements at the upper half of yesterday's range for now.
On the 1 hour chart quotes are back into the scope trading, while on the 3 hour chart the downward channel is making renewal attempts. Break above the nearest resistance and yesterday's top at 1.0708 may trigger further strengthening of the euro. Going below yesterday's bottom and first support at 1.0529, however, would confirm continuation of the bearish trend, towards next objective downwards 1.0415.
Quotes are moving in line with the 20 and just above the 50 EMA on the 1 hour chart, indicating short term neutral and medium term slim bullish pressure. The value of the RSI indicator is neutral and hesitant, MACD is negative and inclining upwards, while CCI has crossed down the 100 line on the 1 hour chart, giving over all light short signals.
Technical resistance levels: 1.0708 1.0920 1.1043
Technical support levels: 1.0529 1.0415 1.0290
Yesterday +27 pips gained on EUR/USD from the following signal:
5:30 GMT+1 Down EUR/USD at 1.0556 Limit 1.0582 Target 1.0506, exit given at 7:20 GMT+1.
Total yesterday +120, as shown at the website.