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EUR/USD Surges Further Above 1.36

Published 02/01/2013, 12:33 AM
Updated 01/01/2017, 02:20 AM
EUR/USD
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TTEF
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EUR/USD Open 1.3606 High 1.3634 Low 1.3541 Close 1.3574

On Thursday Euro/Dollar continued increasing with almost 80 pips. The European currency appreciated from 1.3541 to 1.3619 yesterday, matching the positive money flow sentiment at nearly +24%, closing the day at 1.3574. This morning the Euro surged even further, climbing to 1.3634.

On the 1 hour chart the upward channel has renewed, while on the 3 hour chart the upward channel looks good. Break above the nearest resistance and today's top at 1.3634 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3541, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3427.

Today's focus is on Italy, France, Germany, and EU17 PPI, EU17 Harmonized CPI and Unemployment, and US Nonfarm payrolls, Unemployment, Average hourly earnings and workweek, Michigan sentiment index, ISM Manufacturing PMI, and Construction spending, at 8:45, 8:50, 8:55, 9, 10, 13:30, 14:55 and 15 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 positive and wising too, while CCI has crossed up the 100 line on the 1 hour chart, giving over all long signals.
Technical resistance levels: 1.3634 1.3750 1.3872
Technical support levels: 1.3541 1.3427 1.3300

Yesterday we made +17 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT Buy EUR/USD at 1.3568 SL 1.3542 TP 1.3618, exit sent at 5:54 GMT.
Total yesterday +104, as shown at our web site.


<span class=EUR/USD Chart" title="EUR/USD Chart">

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