On Tuesday, the EUR/USD increased by almost 95 pips. The European currency appreciated from 1.2840 to 1.2934 yesterday, matching the positive money flow sentiment at around +14% and closing the day at 1.2899. This morning the euro lifted slightly further, achieving 1.2939.
The downward channel is on hold on the 1 hour chart, while quotes are still held within the wide trading range on the 3 hour chart. A break above the nearest resistance and yesterday's top at 1.2939 may trigger further strengthening of the euro. Going below yesterday's bottom and first support at 1.2840, however, would confirm continuation of the bearish trend towards the next objective downwards of 1.2726.
Today's focus is on EMU Current account and U.S.A Existing home sales, at 8 and 14 GMT respectively.
Quotes are moving just above the 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is positive and calm. The MACD is positive and quiet too, while the CCI has thinly crossed up the 100 line on the 1 hour chart, giving overall light long signals.
Technical resistance levels: 1.2939 1.3055 1.3180
Technical support levels: 1.2840 1.2726 1.2600
Yesterday we made +24 pips profit/loss on the EUR/USD from the following sent to clients only signal:
5:15 GMT+1 Buy EUR/USD at 1.2888 SL 1.2862 TP 1.2938, exit sent at 7:07 GMT+1.
Total yesterday +136, as shown at our web site.
EUR/USD Chart" title="EUR/USD Chart">
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EUR/USD Cheered By Fed Reassurance
Published 05/22/2013, 12:34 AM
Updated 01/01/2017, 02:20 AM
EUR/USD Cheered By Fed Reassurance
EUR/USD Open 1.2914 High 1.2939 Low 1.2840 Close 1.2899
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