Open 1.2922
High 1.2963
Low 1.2882
Close 1.2912
On Wednesday the EUR/USD decreased with 80 pips. The European currency depreciated from 1.2963 to 1.2882 yesterday, matching the negative money flow sentiment at under -8%, closing the day at 1.2912. This morning the euro is trading quietly, with movements at the lower half of yesterday's range for now.
On the 1 hour chart the downward channel has slowed down, while on the 3 hour chart the downward channel looks good. Break above the nearest resistance and yesterday's top at 1.2963 may trigger further strengthening of the euro. Going below yesterday's bottom and first support at 1.2882, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2770.
Quotes are moving just below the close 20 and 50 EMA on the 1 hour chart, indicating slim bearish pressure. The value of the RSI indicator is neutral and calm, MACD is negative and quiet, while CCI is in line with the 100 line on the 1 hour chart, giving over all neutral signals.
Technical resistance levels: 1.2963 1.3075 1.3200
Technical support levels: 1.2882 1.2770 1.2646
Yesterday we made +8 pips profit/loss on EUR/USD from the following signal:
5:15 GMT+1 Sell EUR/USD at 1.2929 SL 1.2955 TP 1.2879, exit given at 5:39 GMT+1.
Total yesterday +176 pips