EUR/USD Open 1.0705 High 1.0837 Low 1.0783 Close 1.0677
On Tuesday Euro/Dollar decreased significantly with 170 pips. The European currency depreciated from 1.0837 to 1.0665 yesterday, matching the negative money flow sentiment at under -17%, closing the day at 1.0677. This morning the Euro is trading quietly, with movements at the lower end of yesterday's range for now.
On the 1 hour chart the downward channel has extended, while on the 3 hour chart the downward channel has resumed. Break above the nearest resistance and yesterday's top at 1.0837 may trigger further strengthening of the Euro. Going below yesterday's bottom and first support at 1.0783, however, would confirm continuation of the bearish trend, towards next objective downwards 1.0670.
Quotes are moving below the parallel 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI indicator is negative and calm, MACD is negative and quiet too, while CCI has crossed down the 100 line on the 1 hour chart, giving over all short signals.
Technical resistance levels: 1.0837 1.0950 1.1073
Technical support levels: 1.0783 1.0670 1.0547
Yesterday +50 pips gained on EUR/USD from the following signal:
5:30 GMT Down EUR/USD at 1.0801 Limit 1.0827 Target 1.0751, Target reached at 8:44 GMT.
Total yesterday +190, as shown at the website.