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EUR/USD Attempting To Renew Uptrend

Published 06/11/2013, 12:29 AM
Updated 01/01/2017, 02:20 AM
EUR/USD
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TTEF
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EUR/USD Open 1.3257 High 1.3292 Low 1.3177 Close 1.3255

On Monday, the EUR/USD increased by 90 pips. The European currency appreciated from 1.3177 to 1.3270 yesterday, matching the positive money flow sentiment at over +17% and closing the day at 1.3255. This morning, the euro lifted even further, reaching 1.3292.

A new upward channel is making renewal attempts on the 1 hour chart, while quotes are held within wide trading range on the 3 hour chart. A break above the nearest resistance and today's top at 1.3292 may trigger further strengthening of the euro. Going below yesterday's bottom and first support at 1.3177, however, could confirm continuation of the bearish trend, towards the next objective downwards of 1.3064.

Today's focus is on USA Wholesale inventories at 14 GMT.

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 calm. The MACD is positive and quiet too, while the CCI has crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 1.3292 1.3410 1.3534
Technical support levels: 1.3177 1.3064 1.2950

Yesterday we made +18 pips profit/loss on EUR/USD from the following sent to clients only signal:
5:15 GMT+1 Sell EUR/USD at 1.3195 SL 1.3221 TP 1.3145, exit sent at 8:14 GMT+1.
Total yesterday +133, as shown at our web site.


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

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